Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Faruque Hassan has said that India’s expertise in providing MMF and high-end fabrics can serve as a crucial competitive advantage for Bangladesh’s RMG sector.
He made the comments at the inaugural season of the 2nd Textile Sourcing Meet-2023 on Saturday at the International Convention City in Bashundhara, read a press release.
Faruque said, “As a result, there are now four land ports equipped with warehousing facilities for the smooth transportation of fabrics and RMG raw materials. Furthermore, the introduction of rail services has significantly reduced transit time, enabling faster delivery and more business opportunities.”
“To leverage this advantage, BGMEA has collaborated with the government over the past two years to address the infrastructural bottleneck, which is the land port between the two nations.”
He added that with a focused approach and efficient execution, there is immense potential to boost exports using Indian raw materials and thereby help us reach our 100 Billion USD export target
This premium event is especially being organised to facilitate efficient materials sourcing for RMG Exports & achieve $100 Billion by 2030. The event is designed to support increased sourcing from India & other markets.
As part of this well-curated event, Raw-material sourcing will be fast-tracked & deeper relationships will develop with Indian stakeholders by bridging the role through faster sourcing, speedy responses, shorter lead times & trade finance solutions.
Through this initiative, SOWTEX has brought together top associates with key industry decision-makers. This event is also showcasing 35+ fabric & material suppliers along with MMF materials.
During the programme, Sparrow Group Managing Director Shovon Islam said that amidst the limitations and trade embargo imposed on Chinese fabric and cotton by the USA, coupled with Bangladesh’s ambitious goal of becoming a 100 billion USD RMG exporter, India presents itself as a valuable partner capable of providing the requisite raw materials for Bangladesh’s RMG industry.
“BGMEA has been working closely with Indian suppliers and RMG manufacturers to foster better cooperation and understanding, thereby facilitating increased procurement of Indian fabrics to augment Bangladesh’s competitive advantage.”
“Additionally, India boasts of manufacturing high-quality MMF raw materials, which Bangladesh can leverage to diversify its product categories for export. India can also offer novelty fabrics and collaborate with Bangladesh’s RMG manufacturers to introduce new designs.”
He continued, “The sourcing arrangement between the two nations is a mutually beneficial proposition, constituting a win-win scenario.”
This event will be a major step towards building a strategic partnership to provide high-quality fabrics & materials to this ambitious goal of $100 Billion of RMG Export from Bangladesh and aims to contribute $10 Billion of raw Material support from India in the next 5 years.
The two-day-long programme is organised by Sowtex in collaboration Bangladesh Garments Manufacturers and Exporters Association (BGMEA), Bangladesh Garment Executives Association (BGEA) & Confederation of Textile Industries (CITI).
