The current state of the garment industry in Bangladesh

The current state of the garment industry in Bangladesh:

Industrialization is the main cause of economic development of a country. It plays an important role in transforming the financial structure of developing countries. Bangladesh is the second largest producer of garment exports and is involved in nearly 4 million workers and earns $21 billion a year from this industry. Made in Bangladesh The tag on the dress has brightened our image in the world market and we are proud of it. About 80% of the country's total exports come from the garment industry. After the fire and the collapse of the Rana Plaza in Tazreen fashion, security issues of the garment industry came to the fore, and Accord and Alliance were formed, respectively, for European Bayer and North American Bayer. Industry owners are committed to ensuring the factory's work safety under the direction of both coalitions, and are forced to spend extra money behind it. Despite spending a lot of money on the Accord and Alliance's work, the Beavers did not pay extra for dress making.

Meanwhile, while implementing the government's order to increase the wages of workers, the proprietors again face financial crisis.

Due to these reasons the garment industry has suffered a lot at present and many companies have already closed due to lack of financial support from banks. The factories I know closed are –

·       Topaz Garment

·       Unitex Apparels Ltd

·       Stylo Fashion Ltd

·       Ayman Textiles

·       Janttex

·       Ayesha Apparels Ltd

·       Dana Bottom Ltd

·       Ihsan Fashion Ltd

·       Markmood Garments Ltd

·       Cinqi Garment Ltd

·       Cinke Garment Ltd

·       Fashion Ltd

·       Space Garments Ltd

·       Wasfi Knit Composite Ltd

·       Anontex Ltd

·       Workfield Ltd

·       Intermax Ga

·       Appearance

Apart from this, many factories of large groups failed to pay wages to the workers on time and the salaries of the staff and the remaining months were left.

In the meantime, the Eid and this month's salary-bonus will have to be paid a lot of money in the meantime, but the bank has closed the loan re-schedule as there is no government directive.

The matter is very touching, so if the government and bank authorities do not take urgent steps, many more factories will be closed before the next Eid and many workers will be unemployed by losing their jobs.
If you want to move the country to a middle income country in 2021, the industry will have to survive and there is no other option.

Therefore, I wish the vision of the authorities concerned about the development of our industry and strengthening our position in the world market.