FBCCI to aid CII in developing synergies in textile, apparel sectors

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Bangladesh and India each have developed core competencies that can be channeled towards joint synergies by tapping into the global value chain of the $1trillion apparel market

The Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) and the Confederation of Indian Industry (CII) on Wednesday pledged to develop synergies in the textile and apparel sectors of Bangladesh and India.

The pledge was made during a virtual conference, entitled “India-Bangladesh Virtual Conference on Textiles and Apparel Sector.”

In his remarks, Textile 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 we can leverage trade facilities.”

“Additionally, spinning, weaving and dyeing are sub-sectors where we can collaborate to develop and grow according to the evolving needs of the consumer,” he added.

In her comments, Indian Textile Minister Smriti Zubin Irani said: “To facilitate reduced lead time between the trade of the two nations, we will 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.”

She also highlighted the Indian government’s provision for technical textiles and the diversification of jute products, requesting her Bangladesh counterpart’s expert aid to this end.

Md Siddiqur Rahman, vice president of FBCCI, said: “Bangladesh and India each have developed core competencies that can be channeled towards joint synergies by tapping into the global value chain of the $1trillion apparel market.”

Highlighting an earlier discussion on deferred LC payment facilities from Indian banks for Bangladeshi purchases, he noted: “If a revised provision on deferred payments is worked out, it will assist in an increase 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.”

In FY 19-20, Bangladesh’s garments and textile exports to India stood at $421 million.

Kulin Lalbhai, co-chairman, CII National Committee on Textiles & Apparel, underscored the importance of collaborating in areas of textile R&D while expressing his keen interest in collaboration between the two nations.

Among others, FBCCI directors Md Munir Hossain, Mohammad Ali Khokon and Salahuddin Alamgir, BGMEA president Rubana Huq, Bangladesh Cotton Association president Sultan Riaz Chowdhury and BGMEA vice president Md Moshiul Azam Shajal were present at the virtual conference

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