Bangladesh imports 49% cotton from India to meet demandStaff writer ▼ | March 14, 2016
India has become the single largest source of cotton import, the basic raw material for the textile industry for Bangladesh, said BTMA President Tapan Choudhury.
Import The basic raw material for the textile industry
Tapan briefing the media on Bangladesh India Cotton Fest 2016, the first ever event jointly organizing by the Bangladesh Cotton Association and Indian Cotton Assoication Limited to be held on March 12 at Raddission Blu in the capital said that dependency on a particular country is not good for them. They are thinking an alternative.
Commerce Minister Tofail Ahmed is expected to inaugurate the fest as the chief guest.
Tapan said that settlement of dispute, quality claim and other claims are being resolved through friendly and flexible ways.
In the last fiscal year, RMG sector contributed 81% to the country’s total export earnings. This has been possible only due to smooth supply of yarn and fabrics within short time. Sourcing raw materials at comparative prices help the sector achieve the smooth supply chain.
To ensure uninterrupted sourcing of cotton and as a trade-based country, they are going to organize the Bangladesh India Cotton Fest. ■