Indian textile industry at IEW focus to increase its share in Bangladeshi market

International Ethnic Week in Goa opens. The IEW event has 1,000 Indian and 400 international visitors joining hands to provide Business to Business (B2B) platform for buyers and the sellers. The fashion event is organised at the backdrop of business to business (B2B) event to promote trade ties between India and other countries including Bangladesh, Sri Lanka, UAE, UK, Pakistan and Nepal

A strong contingent of 130 Bangladesh traders has arrived for the IEW and holding across the table discussions with various traders, who have set up their stalls displaying the products on the sidelines of the event.

Indian textile businessmen are focusing on increasing the India’s market share in Bangladesh as it is a natural trading textile partner for India and to offset the impact created by China in last few years in the Bangladeshi markets. It can work wonders for the textile industry with proper and concentrated focus on Bangladesh markets which is amongst the top trading communities in India.

From Surat itself, the trade of textiles to Bangladesh is to the tune of Rs 1,000 crore. Surat Dreams, a Gujarat-based textile business initiative, which has organised the event, expects over Rs 1,000 crore business deals to be signed among participants.

The textile businessmen from the US, UK, Bangladesh, Dubai, Colombo are looking out to expand their horizons during the two-day-long event that began in Goa.

According to Nihal Jain, an organiser and partner of Siddharth Feb Text Pvt Ltd, India and Bangladesh are like one family but “Chinese manufacturers are picking the benefits.”