SudhirSekhri, Chairman of AEPC, highlighted growing concerns among buyers over the escalating civil unrest in Bangladesh. He noted that fast fashion buyers are pulling their orders from Bangladesh due to the instability.
These orders, primarily involving man-made fabrics sourced from China, Korea, and Europe, are challenging to shift to India because of India's restrictive import policies. Only orders using Indian-origin fabrics might be moved to Indian factories.
Sekhri emphasized that long-term buyer confidence in Bangladesh was already waning due to capacity saturation, a trend accelerated by the current unrest. Buyers are now expediting their search for alternative manufacturing hubs. For India to benefit, local factories need to increase their capacities.
However, buyers remain cautious about relocating their orders to India unless the Indian government revises its import policies to allow easier access to imported man-made fabrics, trims, and accessories.
In summary, while the turmoil in Bangladesh creates opportunities for Indian manufacturers, significant policy changes are essential for India to become a viable alternative for fast fashion buyers.
