With trade and industry in Bangladesh getting hugely affected by the political turmoil in the neighbouring country following the resignation of Sheikh Hasina as the Prime Minister on Monday, the readymade exporters in Rajasthan are expecting a 20 per cent increase in Christmas orders for readymade garments.
The reason is that international garment buyers have started contacting Indian exporters amid the tense situation in Bangladesh, bringing a ray of hope for the garment exporters of the desert state to boost their business.
Every month, readymade garments worth around $3.5-3.8 billion are exported from Bangladesh, compared to about $1.3-1.5 billion worth of readymade garments exported from India.
Exporters in Rajasthan said their Bangladesh counterparts are facing a challenge to finish their orders for Christmas coming from the US and European countries.
More than 5,000 factories in Dhaka and surrounding areas manufacture garments, which include shirts, T-shirts, trousers, and skirts.
“If the instability in Bangladesh persists for a long time, 10-20 per cent of the orders may again shift to Rajasthan during Christmas,” said Zakir Hussain, President, Garment Exporters Association of Rajasthan.
“When I went to Japan recently, I was told that if the situation in Bangladesh does not improve, we will look for other options. This is how things work. So, there can be a big chance for us. When a foreign buyer comes to India, we will also get an opportunity,” said Mahaveer Taylor, a dealer in readymade garments.
Other industry players said that multinational companies like Puma, Gap, and others place orders for readymade garments with Bangladesh, but due to the political crisis there, the possibility of India’s garment industry benefiting this season has increased.
In such a situation, if the situation in Bangladesh does not improve soon, the buyers from Western countries can turn to India.
