Monthly export of readymade clothes may rise by $250 mn amid B'desh crisis
India can be a beneficiary in the international readymade garment markets as Bangladesh, the world's second-largest exporter in the sector, grapples with economic challenges, amid ongoing political unrest there, according to a report released on Thursday.
India could gain monthly export orders worth USD 200-250 million in the short term, a CareEdge study said.
While Bangladesh has historically captured a significant portion of China's declining share in global readymade garment (RMG) exports, India has been unable to fully capitalise on the opportunity, it said.
However, the current situation in Bangladesh presents a golden chance for the Indian RMG sector to expand its footprint both in short and medium terms, the report said.
"If the unrest in Bangladesh persists for an extended period, it could result in a significant shift in export orders towards India. Industry estimates suggest India could gain monthly export orders worth USD 200-250 million in the short term and around USD