T Rajkumar, Chairman, Confederation of Indian Textile Industry (CITI) has opined that there is a huge potential for synergies between India and Bangladesh. Bangladesh is looking to accelerate its apparel exports to $ 100 bn by 2030. India has the potential to increase its textile and apparel exports to Bangladesh to about $ 15 bn from current levels of about $ 4.2 bn in next 3-5 years.
At a Textile Meet in Delhi, organised by CITI in collaboration with SOWTEX, CITI officials and representatives from Indian textile exchanged idea with the top officials of Bangladesh Garment Manufactures & Exporters Association (BGMEA).
CITI and BGMEA are planning to coordinate for creating green factories in India.
A high-level delegation of leadership team of BGMEA including Faruque Hassan, President BGMEA; Shahidullah Azim, VP; and leading apparel exporters from Dhaka are on a four-day visit to India for close interactions with top Indian textile manufacturers to scale-up textile exports from India to Bangladesh.
Faruque Hassan said that so far Bangladesh has grown through volume business. However, now they are planning to grow through fibre diversification, innovations in design and application, etc., and for this, a Center for Excellence is being created. He cited that as India specialises in the upstream segment which complements its downstream industries, both countries can collaborate to create their own brands.
T Rajkumar also said that India need not set new capacities for the same. There is already about 20-50 percent of idle capacities, particularly in fabric mills and processing houses which can be effectively deployed in a faster and shorter period.
