Apparel Online India Magazine March 1st Issue 2019 | Page 56

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“Garment manufacturers from Bangladesh, natural
business partners for growing retail market in India”
– Tipu Munshi, Commerce Minister, Bangladesh
India and Bangladesh enjoy a very close
bond, a bond that is nourished by a
common history, culture and close political
ties. As a more mature neighbour, India
has a strong trade relation with Bangladesh
that is skewed in its favour. This trade
deficit and solutions to fill the gap are
among the top priorities of the newly
appointed Commerce Minister, Tipu
Munshi. And the most interesting angle to
this equation is the fact that Tipu, though
a politician and a social activist by heart,
is a businessman by mind; so not only
does he understand the political and social
implications of improving trade relations
with India but also the commercial
advantages that will come along with it.
A well-known industrialist, Tipu Munshi,
Director of STS Group, the holding
company of Apollo Hospital Dhaka, also
has avid interest in the agro-industries.
What makes him special to the apparel
industry is the fact that he is also MD of
Sepal Garments Ltd., and has served as
the President of Bangladesh Garment
Manufacturers and Exporters Association
(BGMEA) from 2005 to 2007. A seasoned
and honest politician, Tipu earlier held
the position of Chairman of Parliamentary
Standing Committee on Ministry of Home
Affairs in the Sheikh Hasina Government.
As a first-time minister and a confidante of
the Prime Minister, the country – specially
the younger generation and the garment
industry – have great expectations
from Tipu. In a candid conversation
with Apparel Online, Tipu shares his
vision for the country as also for the
garment industry.  
AO: You have taken up an
important challenge as
Bangladesh moves towards an
important milestone, 50 years of
independence in the year 2021.
What are your top priorities
as Commerce Minister at this
important juncture?
TM: I am humbled by the
confidence that our Honourable
Prime Minister has shown in me
by giving me the responsibility of
such an important portfolio that
has direct impact on our economy
the potential to grow. My first
target is to identify and uproot
corruption that is hampering the
pace of development.
Another major direction is to
strengthen trade with various
countries, India being among
the top focus nations. The
product category that can play
an important role in shrinking
the trade deficit that exists
between Bangladesh and India,
is garments. Today, we are
number 2 in the world in garment
manufacturing and the excellence
that companies here have built in
this domain makes them natural
partners to the retail revolution
that is being seen in India.
AO: Do you feel that the growing
garment exports into India is a
major direction for Bangladesh
exporters?
Tipu Munshi, Commerce Minister
and future growth prospects.
Coming from a business
background, my approach is to
touch upon issues that impact
business – corruption being
the most important. Though
Bangladesh has come a long way
since its inception with notable
development in all spheres,
rampant corruption, which is a
by-product of a nascent economy,
has slowed the pace at which the
country could have grown or has
56 Apparel Online India | MARCH 1-15, 2019 | www.apparelresources.com
TM: I truly believe that
India is an important market
for Bangladesh garment
manufacturers as people
are same as here and have
similar taste, so understanding
preferences and market trends is
not so difficult. Also, proximity
is very critical, like if I send my
truck to Kolkata, then it will be
there by next day morning. With
this advantage, Bangladesh can
be the ‘Turkey’ of your India,
turning around fashion quickly.
We need to also take a prudent
view of the fact that the official
data of exports to India, which is
about US $ 300 million this year
does not reflect the true volume
of business that is happening in
this segment, as a lot of garments
do not cross the border through
a proper channel. This business