In an interview with fibre2fashion, Mr Syed Naved Husain, CEO of Bangladesh-based Beximco Ltd, elaborated on various topics touching upon the global textile-apparel industry and the potential of Bangladesh in apparel exports in the near future.
When asked on current status of Bangladesh apparel sector and its growth prospects in the future, he said, “The apparel industry today is doing very well and poised for an excellent growth trajectory in coming years. Of the population of between 160-170 million, around 50 percent is in the age group of 20-30 years. This age group holds tremendous potential for upside growth for our industry.
“On the other hand, China is facing acute labour shortage. They also have a growing aged population along with compulsions on domestic market front. Whereas in India, industry dynamics are changing rapidly and emergence of IT and other industrial sectors has overtaken apparel industry in terms of growth prospects & employment.
“Also it is no longer cost effective to produce apparels in India. These factors put together brighten the scope for Bangladesh apparel industry. Bangladesh is now competing with China. Though the gap between China & Bangladesh is pretty huge, the gap between Bangladesh & countries like Vietnam, Cambodia and Sri Lanka is widening”
When quizzed if Bangladesh faces any immediate threat or competition, he explained, “Bangladesh is gradually progressing from basic garment to fashion garment. It is currently in the middle segment but it will catch up fast in fashion garments as well. Bangladesh is in the best position to take advantage of the emerging situation.
“It is expected that world apparel trade would reach $600 billion in coming years of which China may contribute around $180-200 billion. Bangladesh with current exports at $15-16 billion holds huge upside potential for growth in coming years and which we feel will happen. In a decade or so, Bangladesh will be undisputed leader in apparel exports”.
Fibre2fashion News Desk - India
| On 17th Jun 2021
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