This time in the neighboring country Bangladesh, the uproar is not on the roads, but in the textile industry, which is considered the backbone of its economy. The increasing import of duty-free yarn from India has caused huge losses to the local spinning mills there. The situation is so bad that about 12,000 crore rupees worth of cloth is rotting in the warehouses and mill owners have warned that if the yarn coming from India is not stopped, the entire industry may come to a standstill from February 1. But the crisis which is a threat to Bangladesh can become a golden opportunity for India. As instability increases, Bangladeshi garment makers will have to import more yarn from India, which will greatly benefit Indian spinning mills. Also, if the supply chain is affected, global brands like Zara, H&M and GAP can shift their orders to India. This can be a big gamechanger for textile hubs like Tirupur, Ludhiana and Surat. The question is – will India be able to convert this opportunity into becoming a global textile leader?
Civil war in Bangladesh’s textile industry. Will India become Global Garment King? | Money Live | Civil war in Bangladesh’s textile industry. Will India become the global garment king?
