“Non-traditional markets are many and India is being looked at as an opportunity market by Bangladesh garment exporters,” says Vice Chairman & CEO of the Bangladesh’s Export Promotion Bureau (EPB), AHM Ahsan.
Apparel export from Bangladesh to India in FY 2020-2021 was US $ 421.86 million, underlines the EPB CEO who feels considering the massive size of the Indian fashion retail sector (fashion retail in India is expected to reach a staggering US $ 106.93 billion by 2026), the export was still low but owing to the severe fallouts of the pandemic in the last two years, the figures of FY 2020-2021 hint at garment exports to the neighbouring country making a comeback of sorts.
'Made in Bangladesh’ formal shirts, tops, denim trousers, undergarments, polo shirts, T-shirts and trousers have already become popular in India,” claims AHM Ahsan who credits the fast-growing middle income group in India behind the increasing demand for apparels from Bangladesh.
The fact that all leading global brands and retailers are selling apparels from Bangladesh in their outlets not to mention the local bigwigs, is testimony enough of the growing popularity of Bangladeshi garments in India, and to give boost to apparel exports, the EPB Chairman has called for exchange of trade delegation between the two countries; organising buyer-seller meet and, last but not the least, participating in trade fairs.
“India with its high economic growth is emerging as a major market and we need to tap the opportunities,” says AHM Ahsan.
Signing FTAs would also be vital from Bangladesh’s perspective and can start with signing deals with individual countries like India, Australia, Japan, etc., and simultaneously negotiating with regional blocks such as ASEAN, EEU, Mercosur, SAFTA and the like.
“We have plans to participate in Apparel Sourcing Week (ASW) 2022, a major thrust towards increasing exports to India. EPB is also looking at participating in other international sourcing events like Sourcing at MAGIC Las Vegas, Texworld Paris, Brazil International Apparel Sourcing Fair, International Sourcing Expo Australia,” concludes Vice Chairman and CEO of EPB on a positive note.
Apparel Sourcing Week 2022, a two-days Sourcing Show not only provides the Asian manufacturers a platform to showcase their products & manufacturing capabilities to the Brands & Retailers from all over the world including India, but also extends them a chance to attend the multiple seminars (headed by industry experts), workshops, open-house discussions and networking opportunities organised during these three days, which would help the manufacturers get a better understanding of Indian and International Retail and evolving dynamics of sourcing in various markets and retail formats.
Apparel Resources is well known for its benchmark publications – Apparel Online, StitchWorld and Resource Guide published from India, Bangladesh & Vietnam. These publications have been around in the industry for over 35 years, supporting, guiding and standing by garment exporters and the retail industry globally, providing them a platform to source better.