Can India Capitalize on Bangladesh Crisis? An In-Depth Analysis of the Future of the Indian Garment Sector
Recently the garment industry around the globe has been closely looking at the crisis developing in Bangladesh that is a key player in the textile sector. The political turmoil and economic instability gripping Bangladesh present both challenges and opportunities for the Indian garment sector. As we delve into the current situation, this article explores whether India can leverage Bangladesh’s crisis to enhance its own garment industry, examining the existing challenges, potential opportunities, and strategic measures needed for India to thrive in this shifting landscape. The Current State of Bangladesh’s Garment Sector Bangladesh’s garment sector has long been a cornerstone of its economy, driving significant growth and development. Since its independence in 1971, Bangladesh has evolved from an agrarian economy into one of the world’s largest garment manufacturing hubs. Today, Bangladesh is the world’s third-largest exporter of ready-made garments (RMG), trailing only behind China and...