The Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) is keen to aid Confederation of Indian Industry (CII) in developing synergies in the textile and apparel sector of Bangladesh and India.
FBCCI in a joint collaboration with the CII hosted a virtual conference titled ‘India-Bangladesh Virtual Conference on Textiles and Apparel Sector’.
Highlighting the long bond of friendship between the two nations, Textiles and Jute Minister Golam Dastagir Gazi said Bangladesh has been the biggest ally of India and with improvement in policies and infrastructure under the current government it is possible to leverage on trade facilities.
“Additionally, spinning, weaving, dyeing are sub-sectors where we can collaborate to develop and grow according to the evolving needs of the consumer,” he said.
Smriti Zubin Irani, Minister of Textile, Government of India, said, “To facilitate reduced lead time between the trade of two nations, we’ll be engaging with our counterparts in Bangladesh involving the Ministry of Infrastructure and other relevant stakeholders.
“Additionally, any existing issues that have been highlighted by our counterparts through this platform will be identified and discussed in our future engagements.”
Smriti also highlighted the Indian government’s distinct provision for technical textiles and the diversification of jute products requesting her Bangladesh counterpart’s expert aid.
Rubana Huq, President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), said it is time for collaborative competition, not just competition. “If Bangladesh and India collaborate, we can achieve great things,” she said.
Md Siddiqur Rahman, the vice-president of FBCCI, said textiles and garments industry has been a part of our century old communal heritage. Bangladesh and India each have developed core competencies that can be channeled towards joint synergies tapping into the global value chain of the US$1trillion apparel market.
“In FY 19-20, Bangladesh’s garments and textile export to India stood at US$421mn. Considering a global reorientation of the value chain, markets, and consumer trends, we see good prospects for further growth in India’s 1.2bn+ consumer market,” he added.
Highlighting an earlier discussion on differed LC payment facilities from Indian banks for Bangladeshi purchases, he said if a revised provision on deferred payments is worked out, it will assist in increasing in procurement volumes of our enterprises from India.
“It will also enable bilateral value chain initiatives for greater import of backward linkage products from India and facilitate Bangladeshi exports of apparel and textiles to India and beyond,” Siddiqur added.
Additionally, manufacturers, exporters, importers, and business leaders highlighted existing issues on both sides in a session chaired by Abdul Matlub Ahmed, President of India Bangladesh Chamber of Commerce and Industry (IBCCI).
Ravi Capoor, Secretary of Ministry of Textiles, government of India; Chandrajit Banerjee, Director General of Confederation of Indian Industry, Dilip Gaur, Chairman of CII National Committee on Textiles & Apparel and its Co-Chairman Kulin Lalbhai; Munir Hossain, the Directors FBCCI; Mohammad Ali Khokon, Salahuddin Alamgir; Sultan Riaz Chowdhury, President of Bangladesh Cotton Association and Md. Moshiul Azam (Shajal), Vice President of BGMEA also spoke in the virtual conference.