Apparel sector eyes $15b Indian raw material support07 February 2023
Staff Reporter :
Achieving the target of apparel export worth of $100 billion by 2030, the entrepreneurs think that India can contribute $15 billion of raw material support in the next 3-5 years.
Bangladesh needs reliable and quality raw materials supply for building up its own backward linkage as well as readily available materials from China and India, they feel.
Meanwhile, the demand for man-made fiber-based garments is growing and India is a reliable source of man-made fiber-based fabrics and lots of specialty fashion fabrics.
As Indian textile supply chain is deep and highly fragmented, BGMEA has collaborated with SOWTEX - Tech Aggregator B2B sourcing platform for fashion and textile materials to fast track connection to right suppliers from India.
BGMEA has been working with the government agencies of Bangladesh and India to open up additional land ports and ease the congestion in Petrapole-Benapole border and better connectivity via train for smooth flow of raw materials from India to Bangladesh.
The faster lead time and additional quality raw materials from a reliable source like India can help fulfill the demand for our buyers as well as grow the Bangladesh market in diversified product category areas. To this extent, BGMEA and SOWTEX along with Confederation of Indian Textile Industries (CITI) have planned two Textile Sourcing Meets'23 and Road Show in India from February 9 to 12.
The event will be led by BGMEA President Faruque Hassan and Vice President Shahidullah Azim along with a team of delegates from Bangladesh RMG Industries.
The BGMEA team is going for close interactions with top Indian textile manufacturers in a four-day visit on Textile Sourcing Road show planned in three cities Delhi - Ahmedabad - Surat.
Team SOWTEX is co-hosting this Textile Road shows starting from Delhi on February 9, 2023 and is inviting strategic stakeholders from CITI, Denim Manufacturing Association, SRTEPC and Ministry of Textile, GOI to have a close networking among the various stakeholders together.
The first meeting will be held in Delhi on February 9 followed by a meeting in Ahmedabad and Surat on February 10 and 11.
This meeting between Bangladesh and India will be a major step towards building strategic partnership to provide high quality fabrics and materials to this ambitious goal of $100 billion of RMG export from Bangladesh, and can contribute $15 billion of raw material support from India in the next 3-5 years.