Bangladesh textile sector turmoil fuels optimism for India’s apparel exports with expectations of a rise in market share: GlobalData
27 August 2024: Ongoing political and economic instability in Bangladesh, a global hub for textile and apparel manufacturing, became the focal point of discussion among the industry experts and influencers on social media platform “X”. Influencers highlight that the disruption in Bangladesh’s textile sector offers India a chance to capitalize on the potential shift in global apparel manufacturing. They believe India’s market share in apparel exports could increase as global brands seek to diversify their supply chains, reveals the social media analytics platform of GlobalData, a leading data and analytics company.
Shreyasee Majumder, Social Media Analyst at GlobalData, comments, “Influencers express a mix of optimism and caution regarding the potential benefits for India’s apparel industry amid the Bangladesh’s textile sector disruptions. There is a widespread perception that this is a promising short-term opportunity, predicting a rally in textile stocks and an increase in India’s market share. Many believe that Bangladesh, given the critical importance of textiles to its economy, will prioritise restoring its industry, potentially reclaiming its position sooner than anticipated.”
Below are a few popular influencer opinions captured by GlobalData’s social media analytics platform …
Muthukrishnan, Certified Financial Planner …
“Someone’s crisis is someone else’s opportunity. Bangladesh has been a major exporter of textiles. Now that Bangladesh is going through huge instability, India should make use of the opportunity to bring that business to our country. More so, Tamil Nadu should use this opportunity as the state with number one share of textile exports.”
Gurmeet Chadha, Chief Investment Officer at Complete Circle Wealth …
“India’s market share in apparel exports has been 3% since a long time.Disruption in Bangladesh along with wage revision is making global labels think of diversification.. Lot of Indian cos cud be benefitted inking term.”
Prashant Nair, Deputy Executive Editor at CNBC-TV18 …
“A quick point on textile stocks rallying – while the Bangladesh situation may may benefit Indian mills. I reckon it will be a temporary bump. Textile exports are Bangladesh’s mainstay. Whoever takes charge won’t let it slip.”
Saurav Jha, Founder and Director of Delhi Defence Review …
“Bangladesh’s loss (textiles) will be Bihar’s gain.”
Mangalam Maloo, Deputy Editor at CNBC-TV18 …
“Bangladesh Impact on Listed Companies VIP Ind Plant in Bangladesh, 30-35% of capacity sourced from Bangladesh Marico 44% of International revenue from Bangladesh International revenue accounts for 25% of sales Dabur, Marico, GCPL & Britannia <5% sales exposure Jubilant Food Has 28 stores in B’desh, roughly 1% of cons Sales Trent Top sourcing countries: The company’s top sourcing countries are Hong Kong, Thailand and Bangladesh. Key To Track Garment & Textile companies may benefit from Bangladesh disruption as global companies look at Bangladesh+1 supply chain”
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