Surat Textile Traders Optimistic Despite Bangladesh Unrest

Surat: Following last week's coup in Bangladesh, Surat’s textile traders are closely monitoring the situation, especially those connected to the Kolkata market. A significant portion of goods sent from Surat to Kolkata are eventually shipped to Bangladesh by Kolkata traders. The instability in Bangladesh directly impacts these traders, creating ripples in Surat’s textile industry.

Parmeshwar Matoliya, a prominent businessman operating Swagat Synthetics at Rathi Palace on Ring Road, shared his insights on the situation. He expressed caution in predicting the future of the business under the current circumstances but remained hopeful about a quick normalization. Matoliya mentioned that a Kolkata-based partner had communicated with their Bangladeshi counterparts, indicating that trade might resume within the next couple of days.

The textile trade between Surat and Kolkata is multifaceted. Some Surat traders engage directly with Bangladeshi clients, while others supply goods to Kolkata traders, who then handle the exports to Bangladesh. The ongoing situation has put a strain on the Surat traders connected to this trade channel. However, routine transactions with Kolkata traders remain unaffected unless specific issues arise with individual parties.

Matoliya, who is also linked with markets in Kolkata, Jaipur, Bengaluru, and Mumbai, discussed recent trends in the textile industry. He noted a rise in the price of grey fabric last week, leading traders to postpone purchases at inflated prices, thereby maintaining a stable customer base. However, he anticipates a revival in business activities post-August 20.

Focusing on plain dyed cloth, Matoliya explained that Surat sends this product to various markets, where traders apply different treatments. In Kolkata and Jaipur, the dyed cloth is transformed into sarees and garments. Bengaluru traders prefer to print on the dyed cloth before selling, while in Mumbai, it’s utilized in the garment industry and sometimes exported.

Despite current challenges, the general sentiment among traders is optimistic. With Durga Puja approaching, the expectation of a good customer turnout offers a silver lining. The hope is that business will soon pick up, reflecting the resilience and adaptability of Surat’s textile industry amidst regional uncertainties.