Dhaka, Aug. 10 -- : Bangladesh's textile industry is currently facing major challenges due to the global recession and inflation as retailers in both European and US markets are either deferring the shipments of finished products or delaying orders due to soaring inflation.
The world's second-largest garment exporter after China is facing prolonged challenges including power shortage domestically affecting production on one hand while its major markets are postponing shipments due to surging inflation, Bangladesh Live News reported.
Plummy Fashion Ltd; a supplier of Phillips-Van Heusen Corporation, the parent company of fashion brand Tommy Hilfiger and Inditex SA's Zara observe a drop of 20 per cent in new orders in July from a year earli...