Over 60 exhibitors and SGCCI office bearers left for Dhaka on Tuesday in preparation for the four-day Indian Textile Trade Fair that the Southern Gujarat Chamber of Commerce and Industry (SGCCI) would host in Bangladesh starting on Wednesday.
In order to compete with China, a significant supplier of textile products, the industry is anticipating strong business from the show, which will be hosted at the International Convention City in Bashundhara in Dhaka, according to SGCCI President Himanshu Bodawala.
“This is the first time such an event has been staged in Bangladesh. Bangladesh offers excellent commercial chances for Surat-based textile industry operators who work in the yarns, fabrics, and other areas of the textile industry, according to Bodawala.
Tipu Munshi, the minister of commerce for Bangladesh, will open the exhibition, and Pranay Verma, the Indian High Commissioner to Bangladesh, will be present.
The SGCCI is collaborating with organisations like the Bangladesh Textile Mills Association, Bangladesh Knitwear Manufacturers and Exporters Association, and Bangladesh Garment Manufacturers and Exports Association to make the event a success.
With an annual revenue of almost USD 44 billion, Bangladesh is the second-largest exporter of clothing in the world, according to Bodawala. “At the moment, Bangladesh imports raw materials and textiles worth about USD 6 billion from China and USD 2 billion worth of textiles from India. He added that the Surat textile sector is a big player in their imports of yarn, cotton, knitted fabrics, and woven fabrics.
The SGCCI president expressed hope that an FTA would be reached between India and Bangladesh and added, “Once an FTA is reached, Surat may become a greater supplier of textile products. We currently find it challenging to compete with China since textile exports from India to Bangladesh are taxed.
The SGCCI had previously organised textile shows in the United States and Dubai to promote the brand Surat on a worldwide scale.
The textile expo in Bangladesh has received thousands of registrations, according to Ramesh Vaghasiya, vice president of SGCCI. Additionally, we are bringing zari traders and manufacturers. We have observed a market for textile products in Australia and aim to investigate it as well.