Bangladeshi apparel makers invite Indian traders to invest in non-cotton textiles

Local apparel entrepreneurs have invited businessmen from India and other Asian countries to explore investment opportunities in the Bangladesh textile industry based on non-cotton fabric and man-made fibre as the country needs huge investment in this sector.

"There is still 15% shortfall in knitted fabrics, and 60% in woven fabrics which Bangladesh needs to import," said Faruque Hassan, president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), in the inaugural session of "Intex South Asia Bangladesh", an international apparel textile sourcing show in the capital's International Convention City Bashundhara on Thursday.

Faruque Hassan said the textile industry in Bangladesh still does not have various raw materials like spandex, rayon, viscose, and other man-made fibres, so there is a huge investment opportunity in this sector.

He also pointed out some of the government steps – such as allowing four more land ports to import cotton and yarn from India, and partial shipments – to promote trade between the two countries.

"Such policy reforms would definitely enhance our capacity immensely," Faruque Hassan said.

The BGMEA president also urged India to set up a research facility that would be a centre for innovation.

"India's excellence in apparel manufacturing, productivity, research and development, and innovation has positioned itself as a knowledge hub in the Asian region. This is an area where the South Asian nations may collaborate further," Faruque Hassan.

Addressing the foreign investors, Mohammed Hatem, executive president of the Bangladesh Knitwear Manufacturers and Exporters Association, said, "Invest in the readymade garment's backward linkage industry, as well as in woven and non-cotton fabric industry to cater to the huge local demand."

Worldex has organised the 11th edition of the "Intex South Asia Bangladesh", where more than 100 yarn, textile, dye, and chemical companies are showcasing their products and innovations.

Most of the companies participating in the exposition are India-based, while companies based in Bangladesh, China, Russia, and the United States are also showing their products.

The exhibition will end on Saturday (23 June).

Textile and Jute Minister Golam Dastagir Gazi virtually joined the programme as the chief guest, while Indian Powerloom Development and Export Promotion Council Chairman Vishwanath Agarwal, Cotton Textile Export Promotion Council Joint Director Murali Balkrishna, and Bangladesh Garment Buying House Association President Kazi Iftequer Hossain, among others, also delivered speeches at the programme.