Bangladesh textile mills warn of shutdown over Indian yarn imports
Bangladesh's textile mills may shut down from 1 Feb 2024 if duty-free yarn imports from India are not revoked. Local millers cite severe financial distress due to reliance on cheaper imports, urging government action to restore competitiveness.
after close1 source ↓written by the desknot a recommendation
- if the government
- 1 Feb 2024
Bangladesh's textile mills are facing a potential shutdown from 1 Feb 2024 if the government does not revoke the duty-free import of yarn by the end of January. Local millers claim that this policy has severely impacted their operations, leading to financial distress amid heavy reliance on Indian cotton yarn and Chinese polyester yarn. The situation is prompting calls for urgent government intervention to restore a fair competitive environment.
Not investment advice. For informational purposes only.