DHAKA : Bangladesh’s apparel exports achieved a remarkable milestone in the previous year, reaching an unprecedented high of nearly US $ 47 billion,
indiashippingnews.com
Bangladesh's apparel exports to the European Union market surged by 8.5% month-on-month to around €1.3 billion in February this year – the highest in the last four months. However, shipments to the 27-nation economic bloc remained 18.6% lower compared to the corresponding month a year ago...
www.tbsnews.net
India’s textiles and garments exports have declined over the last five years by 7.6 per cent to $34.24 billion in calendar year 2023 from $37.16 billion in 2018,
www.thehindubusinessline.com
This has been the single biggest failure of Modi government. They have completely neglected this sector thanks to incompetent scum ministers like Piyush Goyal. Our garment exports have stagnated around $10-12 billion in the last decade while they have crossed 50 billion. Even $1 billion of additional exports will easily sustain 1 lakh direct employment. To make things worse, most indian middle class are exclusively or increasingly shopping at Zara, Uniqlo, Reliance etc, who source substantial amount of their clothes from bangladesh and import it here, which is why our textile imports are increasing.
PC and polyester yarn prices in Indian markets have dropped due to sluggish payments and weak fabric purchases by the garment industry. Viscose yarn remains stable but faces slow demand. The Surat
www.fibre2fashion.com
And looking at yarn demand prices, looks like things will get even worse.