India’s Ready Made Garments (RMG) sector is about to enter in a golden era. Their apparel export rate has been on the upswing. Because of recent political turmoil in Bangladesh and increased garments production cost in China RMG buyers of different countries are regarding India as the best option. The apparel export is increasing rapidly in India in the current fiscal. The political turbulence as well as safety and security issues have emerged as a major problem for the garment industries of Bangladesh. Increase in wages in China is annihilating the garment industry there. All the global buyers and international brands are now willing to work with Indian apparel exporters.
 |
| A busy day for workers, It’s a common scene in the garments factories |
As the orders are being diverted to India from Bangladesh and china for high-value garments, the Indian apparel exports that has experienced 13.4% growth in dollar (US$) terms in April-February of fiscal year 2015. On the other hand because of recent political turbulence, Bangladesh’s RMG sector is facing considerable amount of loss which is about 24.2 million US dollar or 189 crore taka and it is the calculation of only last two months.
Most of the international RMG buyers are choosing India as their purchasing source. Buyers from USA are showing aversion to Bangladeshi RMG sector. In January 2015, Bangladesh exported garments of 44.7 crore US$ to USA while in January 2014 it was 48 crore.
In India, RMG export has reached to 1,538 million US$ in February with an increase of 8.7% against the corresponding month in 2014. India's garment export is upturned to $15,262 million US$ to the international RMG markets for the period of April-February of fiscal year 2015. And it is 13.4% more than the 13,456 million US$ which was at the same period of the previous financial year.
Reported by-
Md. Tanvirul Haque Bhuiyan
Reporter of Textile Tribune
Dept. of Apparel Manufacturing, NITER.
Email : mukutex@gmail.com
0 comments:
Post a Comment