Political unrest in Bangladesh is changing the global supply chain. And this matter has brought benefits for India. Garment export orders have surged since the country's ready-made garment sector began to experience unrest in Bangladesh.
This information is known from the report of Indian media The Hindu. It said that the trade statistics released by the Indian government last Thursday showed that garment exports increased by 35 percent in October. Textile exports increased by 11.56 percent.
Rakesh Mehra, chairman of the Confederation of Indian Textile Industries, said in a release that there are several reasons behind this progress. These include increasing India's apparel and textile export share in the US market, government collaborative initiatives and establishing India as a preferred supply destination.
Apparel Export Promotion Council (APC) chairman Sudhir Shetty said, 'Indian manufactured apparel exports have achieved record growth despite the impact of global unrest and ongoing wars. It proves that the industry can bounce back even in tough times. We are now reaping the benefits of our emphasis on quality and sustainable production.'
“We are also doing well in some Free Trade Agreement (FTA) markets such as South Korea, Japan, Australia and Mauritius,” Sudhir Shetty added. He said, 'Next year we are organizing India's biggest textile fair Bharat Tex-2025. It will be an excellent platform to showcase our potential. Global buyers and brands are looking forward to sourcing from India. We are doing road shows and round table meetings to invite them. Getting good response from them.'
APC General Secretary Mithileshwar Thakur said, 'The supply chain is being restructured due to the crisis in Bangladesh. Global buyers are now looking for alternatives to China.' He also said, 'Due to the ongoing war, the traditional trade routes have been disrupted. The cost has increased. At this time, if the government gives proper support to this labor intensive sector, then this sector will be able to move forward. This requires hands-on cooperation, capacity building, capacity building, investment and sustainable financial support.'
