National Business Group Pakistan highlights China's diminishing share in the global ready-made garments market.

Opportunity for India and Bangladesh

This decline is driven by escalating business costs and strained relations with Western countries, including factors like rising wages and policy changes. In response, India and Bangladesh are capitalizing on the opportunity by expanding their capacity, boosting exports, and attracting Chinese industrialists.

It was further emphasized Pakistan's need to leverage this situation by creating favorable business conditions for Chinese industrialists, resulting in economic improvement and increased employment. Pakistani exporters should also redirect their focus towards trading with Japan, a major global importer of garments.

As China's market share continues to dwindle, Bangladesh emerges as the primary beneficiary, surpassing China, Vietnam, and Indonesia in the American market. India, ranking second, actively establishes large-scale ready-made garments units and offers low-interest loans to stimulate export growth and generate employment.

In contrast, Pakistan's exports face challenges due to rising costs, political unrest, and an unfavorable environment for economic reforms.