India-Bangladesh relations: After the Sheikh Hasina regime was overthrown, bangladesh decided to take a confrontational approach against india, which caused the once cordial relations to quickly deteriorate. Now, the South Asian country is on the verge of economic collapse as its textile industry, which is the foundation of its economy, is in danger of collapsing due to the unstable law and order situation.Bangladesh's textile industry is reportedly suffering significant losses, and several businesses are considering closing as a result of the country's worsening law and order situation and rising violence against minorities, particularly Hindus. Notably, many well-known international brands manufacture their clothing in bangladesh, which has the second-largest textile sector in the world after China.According to reports, the textile sector accounts for about 11% of Bangladesh's GDP. However, the country's ongoing unrest is having a significant negative impact on production, and some international companies are considering moving their operations to india and concentrating on indian manufacturers as a result of the losses they are suffering.Many international brands are expressing interest in Gujarat's Surat's booming textile industry, which has become a viable alternative for clothing manufacturing should bangladesh continue on its current trajectory, according to a report by the Economic Times.The decline of Bangladesh's textile sector could result in significant economic gains for india, including billions of dollars in foreign investments and the creation of lakhs of jobs, even though it presents a serious security risk to New Delhi.
According to the ET article, which cited industry insiders, major brands are asking about Surat's production and supply of ready-made clothing. If surat receives these manufacturing orders, the city's textile industry will increase by 20–25 percent a year, as opposed to the present rate of 12 percent.Bangladesh's economy depends heavily on the textile sector, and its collapse would seriously threaten the stability of the nation's economy by causing many of its residents to lose their jobs.
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