Bangladesh (Commonwealth Union)_ The Indian state of Bihar is actively seeking Bangladeshi investment in the textile and garment sector, aiming to unlock the bilateral trade potential between the two neighboring countries. Sandeep Poundrik, the additional chief secretary of the Industries Department in Bihar, India, conveyed this intention during a meeting with Faruque Hassan, the President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) in Dhaka.
The Indian delegation, headed by Poundrik, underscored Bihar’s investment potential and encouraged investors to explore opportunities in the region. Hassan, in response, emphasized the importance of enhancing business cooperation between Bangladesh and India, advocating for the identification of specific collaboration areas to generate mutual benefits. The BGMEA President expressed optimism regarding the growth prospects for trade and investment ties, particularly within the textile and apparel industry, a pivotal sector for both nations.
Earlier, Bangladeshi apparel manufacturers extended a warm invitation to Indian and other Asian traders, encouraging them to explore investment prospects within Bangladesh’s textile sector, with a specific focus on non-cotton fabrics and man-made fibers. The call for investment arises from the pressing need for significant investments in this sector in Bangladesh. During the inaugural session of “Intex South Asia Bangladesh”, an international apparel textile sourcing exhibition held at the International Convention City Bashundhara, Faruque Hassan, the President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), highlighted the existing deficits in knitted and woven fabrics, standing at 15% and 60% respectively, necessitating substantial imports. He emphasized the industry’s limitations in terms of raw materials like spandex, rayon, viscose, and other man-made fibers, creating a substantial investment opportunity.
Additionally, Hassan pointed out various government measures aimed at promoting trade between Bangladesh and India, such as the expansion of land ports for importing cotton and yarn from India, along with partial shipment facilities, which he believes would significantly augment their capacity. He said, “Such policy reforms would definitely enhance our capacity immensely”. In a collaborative spirit, the BGMEA President urged India to establish a research facility dedicated to innovation, acknowledging India’s excellence in apparel manufacturing, productivity, research and development, and innovation, positioning itself as a knowledge hub in the Asian region. According to Faruque Hassan, “India’s excellence in apparel manufacturing, productivity, research and development, and innovation has positioned itself as a knowledge hub in the Asian region. This is an area where the South Asian nations may collaborate further”.
Mohammed Hatem, Executive President of the Bangladesh Knitwear Manufacturers and Exporters Association, directed a message to foreign investors, encouraging investment not only in the ready-made garment’s backward linkage industry but also in the woven and non-cotton fabric sectors to cater to the burgeoning local demand. The 11th edition of “Intex South Asia Bangladesh,” organized by Worldex, serves as a platform for over 100 companies specializing in yarn, textiles, dyes, and chemicals to showcase their products and innovations. The participating companies predominantly hail from India, while others represent Bangladesh, China, Russia, and the United States.
