Bangladesh mills do good business as fabric & yarn import from India takes a hit due to coronavirus

The COVID-19 pandemic may have proved disastrous to most businesses including the readymade garment sector of Bangladesh, but it has apparently opened windows of opportunity for the locally produced yarn and fabrics, which – after initial loss suffered due to countrywide shutdown and consequent closure of industries – is witnessing a significant spurt in sales lately in the run-up to the holy festival of Eid-ul-Azha! The reason? Sealing of the international borders with India for some time, which sort of, clamped the rising trend of import of Indian yarns and fabrics, both through the legal and illegal channels. It may be mentioned here that the import of cheaper yarns and fabrics from India has long been a contentious issue with primary textile millers in Bangladesh calling upon the Government to impose anti-dumping duty on Indian yarn imports to protect the US $ 8 billion domestic textile rnindustry. The Bangladesh Textile Mills Association (BTMA) sent letters addressed to Finance Minister AHM Mustafa Kamal, Commerce Minister Tipu Munshi and Textiles and Jute Minister Golam Dastagir Gazi for taking necessary measures to stem the entry of cheap Indian yarn to the rncountry, which also called upon the concerned authorities to scrutinise import prices of yarn at land ports along the Bangladesh-India border. For more insights, click @ Apparel Resources