This decision of US President Donald Trump has caused turmoil in the whole world textile market. Recently, Trump has imposed a strong tariff of 35 percent on exports coming from Bangladesh, causing Bangladesh’s condition.
Where on one side of Bangladesh Textile industry For this, it has become a big problem, so this news is like a bumper lottery for India. This policy of Trump has opened a new way to completely change the supply chain of global textile. Now India is in a position to take tremendous advantage of this policy. Let us know what will be the effect of Trump’s decision on Bangladesh and how will the pockets of India be filled?
Flood of trouble on Bangladesh
Bangladesh’s air has blown away by US President Donald Trump’s decision to impose 35 percent tariffs. Bangladesh’s textile industry is the largest pillar of its economy. This industry is a medium of more than 80 percent exports in the country and employs about 40 lakh people. However, now Bangladeshi clothes will become so expensive in America’s market that people will shy away from buying them there. Due to 35 percent tariff, the price of Bangladesh products will reach the sky level and the competition power will also be reduced.
This shares will bring storm in the market, the price can be crossed to Rs 6000
Hope to become India’s global textile hub?
At present, the biggest question is whether India can now become a hub of global textile? The current situation has brought a very golden opportunity for India. Countries like Bangladesh, which were famous for the business of cheap clothes all over the world till now, are scared of Trump’s tariff policy. However, India are fully prepared to roast the opportunity. Let us tell you that India is already one of the largest textile producers in the world. All types of clothes are made in India’s factory. Which includes cheap T-shirts to high quality suits. India is also the largest country to become a textile hub as it also has a great developed capacity of skilled workforce, large -scale production and advance machinery.
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