Indian Investment In Weaving Sector Sought

Indian Investment In Weaving Sector Sought

A 12-members delegation of the Confederation of Indian Industry (CII) during its recent visit to Dhaka was urged to invest in country’s weaving sector by Indian garment manufacturers to meet the demand of fabric, according to a report from Bangladesh.

Expressing his views based on a meeting with the CII delegation, Fazlul Hoque, vice president of Bangladesh Textile Mills Association (BTMA), said that Indian entrepreneurs can invest in the weaving sector as there is an opportunity for growth.

The weaving units in Bangladesh account to only 40 per cent of the fabric demand for garment production, leaving domestic manufacturers no choice but to import fabrics.

“The objective of this mission will be to connect up at the highest level with the industry bodies and with business community of Bangladesh with specific reference to the textile sector and provide a learning platform to members from both the sides,” CII said on its website.

The delegation was in Dhaka to explore investment opportunities in the textile sector and strengthen bilateral economic relations with Bangladesh. The members of the delegation also showed interest in exporting cotton to Bangladesh.