The global textile industry is concerned about the continuous political upheaval and crises in Bangladesh, yet this new scenario has created a huge “growth opportunity” for the domestic textile industry in Ludhiana.
Industry experts surmise that international purchasers may seek out alternate markets as a result of supply chain disruptions, delivery schedule delays, and general production challenges in Bangladesh, perhaps creating an opportunity for homegrown manufacturers.
Even the home industry has begun to receive enquiries regarding possible exports, particularly from manufacturers in Ludhiana. They did, however, clarify that this rise would only be temporary and that their customers will return to Bangladesh as soon as things there stabilised.
Bangladesh has long been an important participant in the global textile industry and is today the second-largest exporter of textiles after China. Bangladesh boasts substantial production capacity and affordable labour costs, which have attracted numerous large corporations, including those in the domestic textile sector, to construct manufacturing operations there. The domestic textile sector’s stakeholders have expressed concern about the company’s capacity to sustain these advantages in light of the ongoing political unrest.
Industry insiders warn that the potential advantages for the home textile market depend on how long Bangladesh’s crisis lasts. Many manufacturers and customers may decide to keep working with Bangladeshi suppliers if the political situation soon stabilises rather than taking on the expenses and hazards of moving production to other locations.
Badish Jindal, president of the All Industries and Trade Forums, said: “The new situation in Bangladesh has raised concerns among buyers, manufacturers, and investors, and they will look for alternatives now. Thus, it is a big opportunity for the domestic textile sector.” However, they will be benefited only if the crisis continues for long as buyers and manufacturers will not opt for alternatives for disruption of a few days.”
According to him, the timing of the unrest is especially crucial because it falls in the run-up to the Christmas shopping season, which is one of the busiest times of the year for the garment and textile industries. This season’s orders are usually placed well in advance, with September and October deliveries planned. During this critical time, any major disruption in Bangladesh’s production and shipping could drive customers to look for alternative suppliers in order to protect themselves from potential losses.
