Amid political turmoil in Bangladesh, shares of many textile companies shoot by 20%

Bangladesh crisis: Taking advantage of the crisis in Bangladesh, textile and apparel stocks rallied up to 20 per cent on the National Stock Exchange (NSE) on Tuesday. However, analysts have warned against chasing the boom as the crisis may only provide a “floating window” for profit. The textile sector is one of the major export earnings sources for Bangladesh.

Due to the political uproar in Bangladesh, the shares of many Indian textile, garment and apparel companies rose up to 20% on Tuesday. These include Century Inks (20%), Gokaldas Exports (18%), KPR Mill (16%), Arvind Limited (11%), Kitex Garments (16%). According to experts, the instability in Bangladesh will boost textile exports from India, which has led to this boom.

According to reports, Bangladesh has a double-digit export market share in the European Union and the United Kingdom, and a 10 percent market share in the United States.

Bangladesh’s clothes are exported all over the world including India. However, now that Bangladesh is facing political turmoil, buyers of clothes from all over the world may turn to India. Let us tell you that Bangladesh is India’s largest trading partner in South Asia, while India is the second largest trading partner of the neighboring country in Asia.