Recession: a boon or woe for Bangladeshi T&G industry?

Recession: a boon or woe for Bangladeshi T&G industry?
February 24, 2009 (Bangladesh)

Exports records of Bangladeshi textile and garment industry- a vital sector in country’s economy, show ascending trend since past few years, and accounts a considerable share in country’s GDP. Current economic challenges, that have perplexed eminent countries across the globe, on contrary, have augured the prospects of the Bangladeshi textile and garment industry.

During the first three months of the fiscal year 2007-2008, RMG exports embarked a 44.66 percent growth, while it hiked to 45.26 percent in September, according to the BGMEA.

Apart from this, ever increasing imports of plant and machinery by the sector in the second half of last year, investments by garment companies in up-gradation of machinery and infrastructure to pace up with the times, considerable investments by the textile industry setting up spinning mills across the country to save precious foreign exchange on import of raw materials like fibre and yarn, etc. justify the optimism amongst global fraternity for Bangladeshi textiles and garment industry.

In spite of this optimism, as the sting of global recession is spreading like a slow poison, engulfing even strong economies; it is an obvious question if Bangladeshi textile and clothing sector will be an exception. Getting inquisitive on this and such more interrogations, Face2Face team at Fibre2Fashion interviewed Mr SM Nurul Huda Chowdhury - Managing Director, Base Textiles Limited – a pioneer in composite manufacturing of fabrics to garments with its headquarter in Chittagong, Bangladesh.

Please click here to read complete conversation.

Fibre2fashion News Desk - India