India “ideally positioned” to support Bangladesh’s RMG industry
23/05/2017
Speaking at a technical symposium in Dhaka on “Current Trends in Textiles”, Mr Shringla explained that there is a growing shift towards manufacturing in countries in South and Southeast Asia due to the lower costs there.
“India and Bangladesh need to work together to take advantage of these opportunities by creating and strengthening cross border value chains,” he urged.
He insisted that it will be “critical” for Bangladesh to maintain its links with the Indian textile industry if it is to meet its ambitious target of exporting readymade garments (RMG) worth $50 billion per year by 2021.
He highlighted India’s role as a leading cotton producer as well as its huge capacity for making yarns and fabrics as key factors, adding that the country is “ideally positioned” to provide these resources to Bangladesh’s RMG industry at lower prices and with lower lead times.
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