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Economic Times
18-05-2025
- Business
- Economic Times
Garment import restrictions from Bangladesh to benefit Indian cos: Industry
New Delhi: The suspension of import of readymade garments from Bangladesh through land ports is likely to temporarily impact buyers as their supply chains will be disrupted leading to higher cost and lead times, textile industry representatives said. India on Saturday imposed port restrictions on import of certain products such as readymade garments and processed food from Bangladesh, in response to similar measures imposed by Dhaka. Import of all kinds of readymade garments from Bangladesh shall not be allowed from any land port but would be permitted only through Nhava Sheva and Kolkata seaports. Bangladesh exports over $700 million (around Rs 6,000 crore) worth of readymade garments annually to India and 93% of the shipments enter India through land ports. Buyers will need to re-align their sourcing and for products with less diffrential in cost and quality, they would shift to Indian suppliers, exporters said. 'We can expect atleast Rs 1000 crore to replaced by Indian manufacturing,' said Sanjay K Jain, managing director, TT Ltd, a textile manufacturer and exporter. Trade experts said that the move will lead to costs escalation by 15-25% besides delays in shipments as land ports face less traffic than sea ports.'We have imposed this measure in retaliation to Bangladesh's actions,' said an official, ruling out any further action on the issue.'This will enable Indian cotton yarn exporters to redirect their supply to the domestic market to meet the potential demand gap created by reduced apparel imports. This could provide a much-needed boost to the Indian textile value chain by encouraging local sourcing and strengthening self-reliance in the apparel segment,' said Rakesh Mehra, chairman, the Confederation of Indian Textile per Ajay Sahai, director general, Federation of Indian Export Organisations, the restrictions will make Indian industry more competitive.'This move would also reduce the backdoor entry of Chinese fabrics into India that were getting converted in Bangladesh and being sent to India duty free. Fabrics if imported directly from China face 20% import duty,' Jain April 2025, Bangladesh imposed restrictions on the export of cotton yarn from India, which traditionally accounts for nearly 45% of India's total cotton yarn exports.
Time of India
18-05-2025
- Business
- Time of India
Garment import restrictions from Bangladesh to benefit Indian cos: Industry
New Delhi: The suspension of import of readymade garments from Bangladesh through land ports is likely to temporarily impact buyers as their supply chains will be disrupted leading to higher cost and lead times, textile industry representatives said. India on Saturday imposed port restrictions on import of certain products such as readymade garments and processed food from Bangladesh, in response to similar measures imposed by Dhaka. Import of all kinds of readymade garments from Bangladesh shall not be allowed from any land port but would be permitted only through Nhava Sheva and Kolkata seaports. Bangladesh exports over $700 million (around Rs 6,000 crore) worth of readymade garments annually to India and 93% of the shipments enter India through land ports. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like After Losing Weight Kevin James Looks Like A Model 33 Bridges Undo Buyers will need to re-align their sourcing and for products with less diffrential in cost and quality, they would shift to Indian suppliers , exporters said. 'We can expect atleast Rs 1000 crore to replaced by Indian manufacturing,' said Sanjay K Jain, managing director, TT Ltd, a textile manufacturer and exporter. Live Events Trade experts said that the move will lead to costs escalation by 15-25% besides delays in shipments as land ports face less traffic than sea ports. 'We have imposed this measure in retaliation to Bangladesh's actions,' said an official, ruling out any further action on the issue. 'This will enable Indian cotton yarn exporters to redirect their supply to the domestic market to meet the potential demand gap created by reduced apparel imports. This could provide a much-needed boost to the Indian textile value chain by encouraging local sourcing and strengthening self-reliance in the apparel segment,' said Rakesh Mehra, chairman, the Confederation of Indian Textile Industry . As per Ajay Sahai, director general, Federation of Indian Export Organisations, the restrictions will make Indian industry more competitive. 'This move would also reduce the backdoor entry of Chinese fabrics into India that were getting converted in Bangladesh and being sent to India duty free. Fabrics if imported directly from China face 20% import duty,' Jain said. In April 2025, Bangladesh imposed restrictions on the export of cotton yarn from India, which traditionally accounts for nearly 45% of India's total cotton yarn exports.
Time of India
11-05-2025
- Business
- Time of India
Global traders track Indo-Pakistan tensions amid delays at ports
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Foreign importers are seeking updates from their Indian suppliers on the elevated geopolitical tensions with Pakistan amid slow cargo movement in certain ports, while some banks are taking longer to check documents related to shipments bound for Turkiye, exporters said, though ruling out any major concern in trade."There were alerts for ports such as Chennai due to which cargo movement slowed a bit but there were no major issues," said Rafeeque Ahmed, chairman of Farida Group, one of India's largest shoe manufacturers and said American clients are worried because Chinese goods are not going there due to higher tariffs and they had pegged their hopes on Indian exports . The US government had raised tariffs on Chinese goods to a combined 145%, making imports from India more attractive.A Gujarat-based exporter of readymade garments said it had inquiries and visits from buyers to place new orders of products which they used to source from China earlier as higher American tariffs on Chinese goods made Indian products more attractive."As soon as the escalations started, they got worried. Buyers who were in India left immediately and those who planned to come, cancelled their trips at the last moment," the exporter said, adding overseas clients are regularly taking updates regarding the situation."Banks are taking more time to clear the Letter of Credit (LoC) for goods bound to Turkiye. They are checking and verifying such documents more," said a Delhi-based exporter of apparel. Turkiye has been actively supporting Pakistan, especially in the latest border escalation. It has supplied drones and other military equipment to to a Kolkata-based yarn and fabric exporter, there were small concerns on outward export traffic due to restrictions on ports. "No one expects the tensions to go on for long but local markets are feeling the pinch," he said."It is too early to say but if the tensions continue then freight rates and insurance costs may go up," said Sanjay K Jain, managing director, TT Ltd, a textile maker.
