Syed Mohammad Ismail, Country Head, Archroma Bangladesh, has expressed his thoughts about his expectation for the year 2022, hurdles the textile and apparel industry may face and the way out of the challenges.
COVID-19 has impacted the whole world over the last two years and the global apparel market has been going through a series of uncertain situations. The situation started to improve with positive growth in the year 2021 after an exerted effort made by the industry stakeholders. IMF’s October 2021 forecast depicted that the global economy is projected to grow 5.9 percent in 2021and 4.9 percent in 2022 in contrast to 2020 growth of (-)3.1 percent. This data is showing that we have a positive future ahead.
Syed Ismail, Country Head, Archroma Bangladesh, has expressed his thoughts about his expectation for the year 2022, hurdles the industry may face and the way out of the challenges.
Textile Today: What is your expectation from 2022 and onward days?
Syed Mohammad Ismail: An exciting future awaits the Bangladesh textile industry. Achieving excellence in efficiency, products, markets diversification and value addition should be the key priorities for the industry going forward. With a significant ~7% share of the global textile and apparels export trade, Bangladesh has immense possibility to drive and thrive from this business. Our strength is our people, who transformed the country through the textile revolution. We need to further invest in people development while we endeavor to excel and sustain the momentum.
Textile Today: What are the key challenges you would like to address for the textile & apparel industry?
Syed Mohammad Ismail: Companies around the world are battling supply chain bottlenecks as a post-pandemic spike in demand converges with industrial production struggling to catch up after lengthy Covid-induced shutdowns. The pandemic is still not over and volatility is likely to continue. Many aspects of our lives have accelerated at an unprecedented pace, driven by the rapid adoption of technology. It is time for each of us to begin envisioning the role that we intend to play and what we would want history to write about our contribution as we take on the challenges and uncertainties of the year ahead.
Textile Today: How can we overcome such challenges to grow further?
Syed Mohammad Ismail: In Archroma, we are leveraging our company’s diverse industry know-how. We are striving to both-sustainably to grow our competitiveness and address environmental concerns. We will continue to pursue solutions to deliver value to the industry by leveraging our unique breadth, depth and expertise as a complete solution provider.
I am reminded by a quote from Dov Seidman, “When you press the pause button on a machine, it stops. But when you press the pause button on human beings they start — start to reflect, rethink assumptions, and reimagine a better path.” That is what I wish today for the year 2022, we stand resilient, dynamic, creative in taking forward our industry and the country.