Indian textile businessmen are focusing on increasing the country’s market share in Bangladesh to offset the impact created by China in last few years, say industry experts.
“Bangladesh is a natural trading textile partner for India. But for last two years, China is increasingly consolidating its footsteps in the Bangladeshi markets,” Sanjay Murarka, partner of Kolkata-based FM Textile Private Limited, told PTI yesterday on the sidelines of the ongoing International Ethnic Week (IEW) Goa 2014.
“From Surat itself, the trade of textiles to Bangladesh is to the tune of Rs 1,000 crore,” Murarka said.
The ongoing IEW, which has 1,000 Indian and 400 international visitors joining hands, has provided Business to Business (B2B) platform for buyers and the sellers.
Surat Dreams, a Gujarat-based textile business initiative, which has organised the event, expects over Rs 1,000 crore business deals to be signed among participants.
The textile businessmen from the US, UK, Bangladesh, Dubai, Colombo are looking out to expand their horizons during the two-day-long event that began here yesterday.
Nihal Jain, an organiser and partner of Siddharth Feb Text Pvt Ltd, said India and Bangladesh are like one family but “Chinese manufacturers are reaping the benefits.”
A strong contingent of 130 Bangladesh traders has arrived for the IEW and holding across the table discussions with various traders, who have set up their stalls displaying the products on the sidelines of the event.
“We are here to look out for fabric and unstitched material,” said Mohammad Shahidul Alam from Dhaka-based Joint Impex Trade company.
Indian places like Surat, Delhi and Ahmedabad are hot spots for such material, he said.
Refusing to comment on China’s increasing presence in its domestic market, Mohammad Wahid Murad, another buyer, said the ethnic wear products manufactured in Bangladesh are traded within the country.
“We are a huge consumer market. Places specially like Dhaka, Chittagong and Sylhet are consumer hubs,” he said, adding that the trade with India is more preferred due to the geological proximity.