The ongoing political turmoil in Bangladesh following the resignation of Prime Minister Sheikh Hasina on Monday has severely impacted trade and industry in the neighbouring country. As a result, garment exporters in Rajasthan are expecting a 20 per cent increase in Christmas orders for ready-made garments.
International buyers, concerned about the tense situation in Bangladesh, have begun reaching out to Indian exporters, bringing a glimmer of hope for the desert state's garment industry.
Bangladesh exports approximately $3.5-3.8 billion worth of ready-made garments each month, compared to India's $1.3-1.5 billion. Exporters in Rajasthan report that their Bangladeshi counterparts are struggling to fulfill Christmas orders from the US and Europe due to the ongoing unrest.
Dhaka and its surrounding areas are home to over 5,000 garment factories, producing items such as shirts, T-shirts, trousers, and skirts. Zakir Hussain, President of the Garment Exporters Association of Rajasthan, noted that if the instability in Bangladesh continues, Rajasthan could see a 10-20 per cent increase in orders during the Christmas season.
Mahaveer Taylor, a local dealer in ready-made garments, echoed this sentiment, citing recent discussions during a trip to Japan. "I was told that if the situation in Bangladesh does not improve, they will look for alternatives. This presents a significant opportunity for us," Taylor said. "When foreign buyers come to India, it opens doors for us as well."
Industry insiders also pointed out that multinational companies like Puma and Gap, which typically place orders with Bangladesh, may increasingly turn to India’s garment industry this season due to the crisis.
If the situation in Bangladesh does not stabilise soon, Western buyers are likely to shift their orders to India, offering a potential boost to the country's garment exporters.
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