Present problems in garments sector in

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Present problems in garments sector in

Bangladesh in one of the 48 least developed countries measured in terms of per capita income, literacy rate and contribution of manufacturing to GDP. Foreign trade policy in this regard can contribute in alleviating poverty by encouraging investment in those industries that are based on labor intensive technologies and allow women to be included in labor force.

So far entrepreneurs of RMG are not directly involved in international marketing. But after the year the market will be open for all the producers and they will have to take the responsibility to market their products directly.

The RMG sector has experienced an exponential growth since the s. The sector contributes significantly to the GDP. It also provides employment to around 4. An overwhelming number of workers in this sector are women. This has affected the social status of many women coming from low income families.

Bangladesh-origin products met quality standards of customers in North America and Western Europe, and prices were satisfactory. Business flourished right from the start; many owners made back their entire capital investment within a year or two and thereafter continued to realize great profits.

Some 85 percent of Bangladeshi production was sold to North American customers, and virtually overnight Bangladesh became the sixth largest supplier to the North American market.

With virtually no government regulation, the number of firms proliferated; no definitive count was available, but there were probably more than firms bywhen the boom was peaking. After just a few years, the ready-made garment industry employed more thanpeople. According to some estimates, about 80 percent were women, which was never noticed previously in the industrial work force.

Many of them were woefully under paid and worked under harsh conditions. The net benefit to the Bangladeshi economy was only a fraction of export receipts, since virtually all materials used in garment manufacture were imported; practically all the value added in Bangladesh was from labor.

Ready-made garments manufactured in Bangladesh are divided mainly into two broad categories: Shirts, T-shirts and trousers are the main woven products and undergarments, socks, stockings, T-shirts, sweaters and other casual and soft garments are the main knit products.

Woven garment products still dominate the garment export earnings of the country. Although various types of garments are manufactured in the country, only a few categories, such as shirts, T-shirts, trousers, jackets and sweaters, constitute the major production-share.

Economies of scale for large-scale production and export-quota holdings in the corresponding categories are the principal reasons for such a narrow product concentration. Recent surveys carried out by the consulting firm McKinsey and the accounting firm KPMG identified attractive prices as the most important reason for purchasing in Bangladesh.

Price levels will remain highly competitive in the future, since significant efficiency increases will offset rising wage costs. Besides labour cost and duty advantage, raw materials and real estate costs are also cheaper in Bangladesh.

Present problems in garments sector in

There is also no doubt that Bangladesh is benefitting from various preferential trade agreements providing tax free entry into several dozen countries. But Bangladesh has its own challenges to overcome.

RMG Sector of Bangladesh and International Competition - Textile Learner

Impediments to investment include unreliable power supply, high real interest rates, corruption, and weaknesses in law and order. History of Apparel Industry in Bangladesh: There were only 9 export oriented garment manufacturing industry inearned only 1 million dollar.

Some of them were very small, produced RMG for local market as well. Four such small and pioneer garments were Reaz garments, Paris garments, Jewel garments and Boishakhi garments. Reaz garments established inas a small tailoring outfit, named Reaz store in Dhaka.

Served only domestic market of its initial 15 years. Init changed its name to Reaz Garments Ltd and started to export by selling 10 pieces of shirt to France, valued 13 million franc in That was the first direct export of apparel.

It had trained operators including 3 women in S. In the s, there were only 50 factories employing only a few thousand people. Currently, there are manufacturing units. The RMG sector contributes around 76 percent to the total export earnings.

This sector also contributes around 13 percent to the GDP, which was only around 3 percent in Of the estimated 4. Inthe industry consisting of some factories employed directly more than 1.

The RMG sector is expected to grow despite the global financial crisis of o To identify the future of the readymade garments sector in Bangladesh. problems faced by this sector and finally recommend some overcome strategies.

For trend analysis, three Below, we present a detailed narration of the evolution of the RMG sector from its humble origins to the present day. RMGs are the finished textile product from clothing factories and the Bangladeshi RMG sector is one of the fastest growing sectors in the Bangladeshi economy, with a growth rate of 55% from to Exports of textiles, clothing, and ready-made garments (RMG) accounted for 77% of Bangladesh’s total merchandise exports in By .

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