The Garment Industry of Bangladesh

9128 Words Jan 5th, 2007 37 Pages
THE GARMENT INDUSTRY OF BANGLADESH

Introduction:

The garment industry has played a pioneering role in the development of industrial sector of Bangladesh. Though it took a rather late start i.e., in 1976 but it soon established its reputation in the world market within a short span of time. Resultantly garment is now one of the main export items of the country. Besides, enriching the country's economy it has played a very important role in alleviating unemployment. At present there are more than two thousand one hundred garment factories in the country employing more than 12 lack labors. 85 percent of the labor force is women.

Once Sri-Lanka was leader in this field in South Asia and India was its competitor. After a bloody civil war
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The mentioned performance of the industry has been possible due to:
• The Government of Bangladesh has always been concerned about the sector's growth and has played an active role as a catalyst to solve various complexities, whenever intervention was necessary.
• The cheap but disciplined and regimented workforce has been key for the success of this industry.
• The entrepreneur class has been dedicated and motivated to the country's economic prosperity.
• The quality of the manufactured apparel, which has been increasingly recognized by our international buyers and end users all over the world.
• Buyers' response has been encouraging through repeat orders. The industry has been producing all sort of apparels for all seasons and has managed to get repeat orders for every season.
• The import policy of Bangladesh has been flexible and friendly for import of accessories.
• Although there are accountable anomalies, the financial institutions, both nationalized and private, have been serving to assist this sector.
• Readymade garment industries have managed to maintain the confidence of the buying class and others in the business.
• Although the backward linkage textile industry is not adequate for the needs of the RMG industry, it has been supporting regular manufacturing and supply systems to some extent.

Bottlenecks Retarding the Growth of the Readymade Garment Sector
This vital and
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