Pakistan’s textile industry is less competitive than neighboring countries
According to Pakistan’s “News” report, although the world is increasingly relying on Asia to meet textile demand, unfavorable factors such as slowing investment, high interest rates, and energy shortages have made Pakistan’s textile industry less competitive than neighboring countries such as China, India, and Bangladesh. country.
According to the All Pakistan Textile Mills Association (APTMA), China’s current textile exports are US$212 billion, while those of India, Bangladesh and Pakistan are US$23.42 billion, US$20.22 billion and US$13.8 billion respectively. China is the world’s largest cotton producer and consumer, followed by India. Pakistan is the world’s fourth largest cotton producer and third largest consumer.
APTMA stated that Bangladesh’s cotton production is low and textile raw materials are almost entirely dependent on imports. Although Bangladesh started exporting textiles in the early 1990s, its export volume surpassed Pakistan’s four years ago. The Pakistani government should take inspiration from the development of Bangladesh’s textile industry, provide a favorable environment to the industry, and improve the competitiveness of the textile industry.
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