Fabric manufacturers of Surat are expecting good business from Bangladesh as they are participating in the four-day long Indian Textile Trade Fair in Bangladesh, starting from today (11th January). The event is taking place along with Garment Technology Bangladesh (GTB) 2023.
The Southern Gujarat Chamber of Commerce and Industry (SGCCI) is organising this event in which over 60 exhibitors from Surat are participating.
This is first such event in Bangladesh where a large number of companies are participating from Surat. These companies are displaying their latest offerings in yarns, fabrics as they see great business opportunities in Bangladesh.
It is worth mentioning here that the SGCCI had earlier organised textile exhibitions in US and Dubai to promote brand Surat’s textile industry.
Himanshu Bodawala, President, SGCCI said the industry is expecting big business from the exhibition, and that would help it compete with China, which is a major supplier of textile goods.
He further added that Bangladesh is the world’s second largest exporter of apparel with business of around US $ 44 billion per annum and importing raw material like yarn and fabric worth around US $ 6 billion from China and US $ 2 billion from India. They majorly import yarn, cotton, knitted and woven fabrics in which Surat textile industry is a key player.
As free trade agreement (FTA) is also in progress between India and Bangladesh, Surat can become a bigger supplier of textile raw materials to Bangladesh. Currently, textile products exported to Bangladesh from India are taxable, due to which it is difficult for India to compete with China.
