The global clothing brands are looking up to India in the midst of Bangladesh political unrest, resulting in surge in enquiries and export orders.
“The Bangladesh crisis has begun to have an impact on the global apparel sourcing contours. The current unrest is expected to disrupt the Bangladesh garment export infrastructure on account of a variety of reasons including the imminent forex crisis since their readymade garment exports is critically dependent on import of fabrics,” Thakur said.
In April-December FY25, India’s overall apparel exports were $11.31 billion, up 11.58% on-year.
In the face of political turmoil in Bangladesh, Indian exporters are benefiting from global orders shifting to India. Hubs like Tirupur are witnessing a surge in enquiries and export commitments, with shipments expected to ramp up in early 2025.
“This shift underscores India’s ability to step in as a trusted alternative sourcing destination amidst geopolitical uncertainties,” he said.While the US and EU continue to remain India’s top export destinations, India is also making strides in other emerging markets. FTA markets like Japan, Korea, UAE and Mauritius have also started showing promise in recent months reflecting expansion of global footprint.On product front, India’s apparel export portfolio has been traditionally dominated by cotton garments making Indian exports largely cotton centric. With global demand increasingly shifting towards man-made fibre (MMF) based garments on account of the versatility, durability and affordability of the fibre and its increasing use in formal, fashion and sportswear, India is finding itself lagging in this key segment, according to
Thakur.
This has also led to Indian exports not getting aligned with the global demand.
His statement comes ahead of India’s flagship Bharat Tex event on February 12-14.
He said the event is all about the entire textiles’ products however, RMG industry in particular will focus more on MMF based garment, sustainable clothing and innovative products which are increasingly in demand the world over.
“India is also relatively weak in lowers/ bottoms, outerwear, athleisure/ activewear where with little extra efforts we will be able to capture a significant market share,”
Thakur said.