Bangladesh to set up textile park in Gujarat
13 October 2015, Nirapad News: Bangladesh has jumped on to Gujarat’s textile park bandwagon as it proposed to set up a textile park in the Indian state.
Bangladesh has zeroed in on Kadi near Ahmedabad for the project which involves an initial investment of Rs 240-300 crore.
To begin with, the park will have spinning units with cumulative capacity of 100,000 spindles. Bangladesh has sought around 100 acres of land from the state government for the project.
Last month, a high level trade delegation comprising representatives of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), Bangladesh Cotton Association and Bangladesh Garment Manufacturers and Exporters Association (BGMEA) visited Gujarat.
These apex trade bodies have now approached the state government with a proposal to set up a textile park.
“Initially, they will invest in yarn manufacturing and later on may include garment manufacturing. Bangladesh already imports yarn from Gujarat, so the park will provide them the cost advantage. The project is very significant from the point of view Indo-Bangladesh trade promotion,” said Mamta Verma, industries commissioner of Gujarat government.
Globally, Bangladesh is among the top garment manufacturing and exporting countries.
“Gujarat has aggressive textile policy with incentives for spinning activities. Availability of power and raw material (cotton) is attracting many companies to set up their spinning units in the state,” said Dr PR Roy, chairman, Diagonal Consulting India.
Bangladesh imports around 55-lakh bales (one bale weighs 170 kg) annually, of which 70 percent is accounted by India, while Gujarat has the largest share in cotton exported to Bangladesh.