Indian textile makers’ shares surged on bets they stand to gain from a political turmoil in Bangladesh that threatens to disrupt supply chains. Bangladesh’s textile exporters face the risk of losing business amid political instability that saw violent protests forcing Prime Minister Sheikh Hasina to flee the country on Monday.
Stocks of Indian manufacturers including KPR Mill, Arvind, Gokaldas Exports, Vardhman Textiles, and Welspun Living all jumped more than 10% in Mumbai, on expectations of a higher market share.Bangladesh has enjoyed rapid growth in its exports of ready-made garments and other textile products, making it the second-largest exporter of such products in the world behind China. The country’s textile exports were worth $45 billion in 2022, more than double that of India.
Stocks of Indian manufacturers including KPR Mill, Arvind, Gokaldas Exports, Vardhman Textiles, and Welspun Living all jumped more than 10% in Mumbai, on expectations of a higher market share.Bangladesh has enjoyed rapid growth in its exports of ready-made garments and other textile products, making it the second-largest exporter of such products in the world behind China. The country’s textile exports were worth $45 billion in 2022, more than double that of India.
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