Strong fibre of growth

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Published: Thu 16 Dec 2021, 6:04 PM

Last updated: Thu 16 Dec 2021, 6:06 PM

Favourable and forward-thinking infrastructure has aided the ascent of the textile industry to be on top of the world

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Bangladesh has established itself as a major force in the textile manufacturing and exporting industry. Lower wage, favourable business environment, easy transportation facilities as well as government policy support have helped the country become one of the largest exporters of textiles in the globe. Currently, Bangladesh holds a share of about 6 per cent in global market, while China holds a share of 39.3 per cent of global textile market. As a result, Bangladesh can be considered as the manufacturing alternative to China and the second largest exporters in the world.

The South Asian nation earns billions of dollars by manufacturing as well as exporting ready-made textile goods. In other words, the textile sector is a multi-billion-dollar industry with Bangladesh exporting worth $30 billion ready-made casual, formal and fashion apparel every year. Compared to other export countries, Bangladesh offers textile clothing at a lower and affordable cost. And, there is a very high chance to achieve more in textile industry. In future, the Bangladeshi textile manufacturing industry is working to achieve $50 billion by 2021.

Almost all reputed and famous international branding companies import 'Made in Bangladesh' clothes. The country has earned a great reputation and value in the international market, through promising quality and convenience, which has led to high ranked buyers from all around the world. Bangladesh normally exports its textile apparel to USA, Canada, Europe, Australia, Japan, Asia and many more countries. And some of the world’s top clothing brands who directly import ready-made clothes are Walmart, H&M, C&A, GAP, Target, Zara, TESCO, Levi’s, Carrefour, JC Penney, Adidas, Nike, US Polo, American Eagle, Hugo Boss, Esprit, Mango, Puma, Walt Disney, to name a few.

The world’s second-biggest apparel exporter is now home to fashion labels of its own. Bangladesh can attribute this turn of fortune to stable economic growth as the country’s GDP has been on a year long winning streak. Some of the top local fashion brands include Aarong, Cats Eye, Yellow, Ecstasy, Le Reve, Kay Kraft, Rang, Anjans, Texmart, Smartex etc. In fact, the robust growth is no mystery. If China is the factory of the world, Bangladesh is the tailor — and the sector is now beginning to cater to the tastes of domestic consumers.

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