MINDTREE
Q-and-A
Bangladesh ’ s apparel exports to India is rising significantly , thanks to the booming retail market which is expected to touch US $ 1,576 billion by 2026 with fashion retail alone expected to reach US $ 104 billion by 2027 .
Many renowned exporters have already started catering to India . What about you … Are you into Indian market already or planning to do so in the near future ?
Md . Khosru Chowdhury Chairman & MD , NIPA Group
Maashed R Abdullah Director , Dressmen Limited
India is very promising . It has a very large population with considerable buying prowess … Dressmen is amongst the first to export to India and we started with manufacturing for Peter England . Currently we are supplying to Max , Pantaloons , Red Tape , etc . According to me , India basically has three main seasons – the pre-and post-wedding and the festival season . Considering the country ’ s population and its demand which peaks during these periods , the retailers have no option but to source from Bangladesh to meet the requirements .
In Bangladesh apparel sector , a lot of manufacturers are interested to get into the Indian market because of the opportunities that it offers . Given the population that India boasts of , if we can cater to this market successfully , our sales here would be much higher than the entire Europe . However , there have been some payment-related issues with the Indian buyers in the past , which sort of increased the apprehensions amongst the exporters here .
Considering the good bilateral relations , demand and supply scenario and the other benefits a buyer from India would enjoy sourcing from Bangladesh , I think one has to abide by certain business ethics to ensure that business relationship between the buyer and supplier is good , which would encourage more and more exporters to look towards India .
Imranur Rahman Managing Director , Bando Designs Ltd .
We have started exporting to India already . We are exporting trousers for Indian Terrain and currently the production is on for this client . We have also started negotiating with TATA Trent ; audit has already been completed and we are expecting orders soon . Having started working with Indian brands and retailers , I have got an understanding of the Indian retail market and feel that it holds lot of opportunities for apparel exporters / manufacturers from Bangladesh .
Asif Ibrahim Vice Chairman , Newage Group
The Indian domestic market is very promising with many international and local brands coming up lately . The biggest advantage for a buyer in India , I feel , is the sharp lead time that they would enjoy if they source from Bangladesh . Also communicating and meeting the buyers become much easier for a supplier as India is a neighbouring country . Of late , the Indian middle class is also spending a lot on buying garments ; and all these add up to the business benefit for both the buyer and the supplier .
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MA Jabbar Managing Director , DBL Group
Many Bangladeshi manufacturers have already started catering to India . In these days of fast fashion and with the new sea links between the two countries , I feel the factors are conducive for further boosting apparel exports from Bangladesh . A neighbouring country with good connectivity and an upwardly-mobile middle class with increasing disposable income would open up new windows of growth opportunity for the Bangladeshi exporters for sure .
NEXT MINDTREE QUESTION As per reports , Bangladesh Government has decided to fix the minimum wage for the 3.6 million workers employed in the readymade garment sector of the country at Taka 8,000 , which will be implemented from December this year . Do you think this has been a rational increase considering the need , requirement and challenges faced by the stakeholders or will it have any adverse business implications … Please share your views on the same .
10 Apparel Online Bangladesh | October 2018 | www . apparelresources . com