Bangladesh's Political Crisis Is A Concern For Indian Textile Industry: CITI
The domestic textile industry body fears that disruptions in Bangladesh may lead to delays and shortages, compelling Indian companies to seek alternative manufacturing solutions.
The Confederation of Indian Textile Industry has raised alarms about the impact of Bangladesh’s escalating political turmoil on India's textile and apparel sectors.
The crisis, which has been described as the worst since Bangladesh’s independence in 1971, could disrupt supply chains and production schedules for Indian firms operating in the neighbouring country.
Chandrima Chatterjee, Secretary General of CITI, expressed deep concern and said, "The political instability in Bangladesh is troubling, and we are closely monitoring the developments. The country's impressive growth in the textile sector has strengthened trade flows across the subcontinent."
The domestic textile industry body fears that disruptions in Bangladesh may lead to delays and shortages, compelling Indian companies to seek alternative manufacturing solutions.
As a result, there is a noticeable shift towards other manufacturing hubs, with Indian textile centre Tirupur potentially benefiting from this realignment.
Bangladesh is currently facing severe unrest, with Prime Minister Sheikh Hasina stepping down amid widespread anti-government protests.
Army Chief General Waqar-uz-Zaman has announced the formation of an interim government to assume duties.
CITI also highlighted the broader implications for global supply chains. Major international brands reliant on Bangladesh for their sourcing may encounter delays and reduced product availability, potentially affecting inventory levels and sales worldwide.
(With inputs from PTI)
