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

Courtesy: American Silk Mills

Textiles | On 18th Oct 2017

Sutlej Textiles adds American Silk Mills to its portfolio

Sutlej Textiles and Industries Ltd (STIL) has announced the...

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Cotton stocks accumulating everywhere outside of China

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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

October 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

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.3%
No
13.6%
Skip
9.1%

Total Votes: 66

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

Yes No

Active Poll

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

Yes
60.6%
No
28.8%
Skip
10.6%

Total Votes: 66

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

Yes No

Active Poll

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

Yes
84.8%
No
10.6%
Skip
4.5%

Total Votes: 66

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

Active Poll

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

Yes
74.2%
No
12.1%
Skip
13.6%

Total Votes: 66


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