Bangladesh Calls For Indian Investment To Boost Its Garment Business

Bangladesh has called for investments from Indian entrepreneurs to give a boost to its growing readymade garment manufacturing sector.

President, Rangpur Chamber of Commerce and Industry (RCCI) Mostofa Sohrab Chowdhury said “It is an opportunity waiting to be tapped. While Indian entrepreneurs can gain out of their investment in the sector in Bangladesh, more number of our workers can have employment there. It’s a win-win situation for both. RCCI is one of the largest Business and trade community platforms of Bangladesh.

According to World Trade Statistical Review 2017 of WTO, while global clothing products market has gone down to $444 billion in 2016 from $450 billion in 2015, Bangladesh could have increased its share in global apparel export up to 6.4% from 5.9% during the period to maintain its second position in the sector. But share of China, the undisputed first, had gone down from 39.3% to 36.4% while the other close competitors Vietnam, India, Turkey and Cambodia recorded share of 5.5%, 4%, 3.4% and 1.4% respectively.

Director of RCCI, Debabrata Sarkar said “China’s market share loss is a major vacuum that could not be taken up by any other major player and remained untapped. With its huge expertise in the sector and available efficient manpower, Bangladesh can utilize this with proper investment inflow.”