Home / Knowledge / News / Apparel/Garments / Political turmoil has cost apparel sector Tk 4.5bn: BGMEA
Political turmoil has cost apparel sector Tk 4.5bn: BGMEA
15
Jan '15
“The ongoing political turmoil in Bangladesh has cost the apparel industry Tk 4.5 billion,” the chief of Bangladesh Garment Manufacturers & Exporters Association (BGMEA) said.

Addressing a media conference, Atiqul Islam, president at BGMEA urged politicians to find a solution to the ongoing impasse as the nation-wide blockade has cost the sector Tk 450 crore.

“The daily production value in the garment sector is estimated at Tk 430 crore per day. So, even if half of it is disrupted, the blockade is disrupting output valued at Tk 215 crore per day, he said.

Islam said since the blockade began, some units have been forced to ship goods by air to supply buyers on time, while others may have to offer discounts or face order cancellations and even deferred payments.

He informed that in 2013, the apparel industry had to bear air shipment cost of Tk 5,000 crore and had to offer discounts totaling to Tk 9,000 crore due to political turmoil in that year.

“The working of the apparel industry is normally not affected by strikes and unrests, but supply of raw materials, accessories, etc and transportation of export goods gets affected, he explained.

He urged political leaders in the country to ensure a safe supply chain for the industry, by resolving the deadlock and offer a safe environment.

The Bangladeshi garment sector, the second biggest after China, accounts for 80 per cent of its total exports and directly employs over four million people, mostly poor from rural regions.

He added, “Additionally, various forward and backward linkages industries have developed around the sector, like shipping, clearing and forwarding agents, banks, insurance, etc which have thrived due to the sector.”

According to Islam, the political unrest is discouraging global clothing buyers from placing orders in the country.

Sounding a note of warning, Islam said that if the Bangladesh garment business was impacted further, a huge number of people employed by the sector will lose their jobs. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 26th Jul 2017

Q1 2018 revenue at Raymond soars 14%

The consolidated revenue of Raymond Limited for the first quarter of...

Textiles | On 26th Jul 2017

Textile Corp of America to create 1000 jobs in Tennessee

Textile Corporation of America Inc, a leading textile manufacturer,...

Textiles | On 26th Jul 2017

Leather & footwear industry expecting incentive package

India’s leather and footwear industry is anticipating an incentive...

Interviews View All

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X