The statistics of Export Promotion Bureau (EPB), showing a fall in export earnings from home textiles, should draw attention of the country's policy-planners. The EPB's data showed Bangladesh fetched $791.52 million in the last fiscal year (FY) 2012-13, which was 12.64 per cent down from the previous fiscal's value. Market watchers attribute this to global economic slowdown. The sector, which had once seen an impressive growth in global markets, could still be revamped with well-thought-out policies and expansion of market outlets through extensive exploration as home textile products are usually used in cold seasons. Once a land of famous Muslins, adored across the world, Bangladesh still has the potential for exporting its quality textile products that are of common use abroad. Locally produced 'lungi' and indigenous towel, called 'gamcha', could even earn a sizeable amount of foreign currencies through exports to countries in the Middle East and India. Nearly six million Bangladeshis are working alone in the Middle East. Towels are in great demand in the vast markets of Europe, the USA and Canada.
The home furnishing industry in Bangladesh does, in fact, offers a splendid range of bedspreads, curtains, linen, cushion covers, table covers, kitchen accessories, bath linen, and other home textile products. The industry, as the concerned quarters suggest, now needs capacity building to really capitalise on the upcoming opportunities to take a sizeable part of the world home textile market.
China, India, Pakistan and Turkey are traditional producers of home textiles and have earned reputation for their product ranges. But then Bangladesh's home textile industry has also been growing at a rate of 20 per cent on yearly basis, making it a promising contender among these 'stronghold' countries. Newer opportunities are emerging ahead as buyers from China and Pakistan are shifting to Bangladesh. In fact, export earnings from home textiles, according to some analysts, can cross $2.0 billion in the upcoming three years. Along with good quality, low cost of production, lower wages, duty-free access to some developed countries are the factors that weigh in favour of Bangladesh for the retailers to source their related imports.
However, some lingering problems are hindering the growth of the industry in Bangladesh. According to the world's largest home textile sourcing company Tasa, due to infrastructure bottlenecks, even if the product is ready, getting the products from Bangladesh through timely shipment arrangements is still an issue and is a big obstacle to increasing business with the country. There are also many home textile buyers abroad who are more sensitive than others about the compliance and environmental issues. With compliance situation improving, getting orders will be easier. The industry needs capacity building and expansion now to explore more orders. The Bangladesh Textile Mills Association is otherwise upbeat about the home textiles' contribution to the economy. In the winter season, uses of home textiles rise and it is a seasonal product. That's why export earnings from home textiles, according to the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), witnessed a decline last fiscal. Export of home textiles, the FBCCI expects, would rise in September.
What is now needed most is the government's wholehearted thrust on the home textiles sector. It can take steps to assess the country's potential and provide necessary incentives to the entrepreneurs who are capable of attracting orders from abroad, through their adherence to compliance-related issues.
Source:- thefinancialexpress-bd.com
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