TEXTILE !! The backbone of Bangladesh Economy. The small scale start up of the garment and textile industry in Bangladesh in the eighties & in the space of four decades, it has continued to play a role as one of the driving forces of the economy of Bangladesh. The disappearance of the golden jute industry has been overshadowed by the growing billions of dollars in foreign exchange earnings from the garments and textile industries. Bangladesh's garments and textile industry has been able to take the top spot in the confidence of American & European buyers.
Textile sector provided many job opportunities for Bangladeshi people. According to a report, "the combination of backward and forward linkages in the garment industry has created employment for about 10 million people of Bangladesh." This industry is now the livelihood of millions of people. After the contribution of agriculture to the country's GDP, the garment industry and its entrepreneurs and workers are contributing the most to the flow of economic activities of our country.
Bangladeshi garments industries are popular to producing world class cloths. H&M, Wal-Mart, Adidas, Levis, Nike and many other reputed cloth making companies produce their clothes in Bangladeshi industries. Did you know FIFA T-shirts are being made in Bangladesh?
The World Cup will start on November 21 in Qatar which is nearly 260 days. FIFA licenses world-renowned organizations to supply clothing and equipment for the World Cup competitions. Licensed companies order companies from different countries to make many textile cloths like jerseys, T-shirts, jackets and other equipment.
Well-known Russian sportswear supplier made a deal with Qatar like many others, for the FIFA World Cup clothing supply. Although Bangladesh isn't in the World Cup football, But the name of the red-green country is on the T-shirts worn by the spectators and fans. T-shirts are being made for a FIFA-licensed organization at a factory at Chittagong in Bangladesh. The company last year ordered to Sonnet Textile Limited of Gosaildanga in Chittagong's Agrabad to make six lakh T-shirts for them. The company started production of T-shirts from February this year after the FIFA approval at the end of the process. The export value of six lakh T-shirts is about 15 lakh US dollars or nearly 13 crore rupees. The company also exported a part of ordered T-shirts last week. That’s a pride for our country.
According to the report of RPB, in the six months from July to January of the current 2021-22 f/Y, exports amounted to 2,954.69 billion. 81% of the total export income came from the readymade garments sector. In the first six months of this financial year, garments worth 2.35 billion were exported. This income is 30% more than the July-January period of last year. Moreover, the contribution of garment industry to the GDP(gross Domestic Product) of Bangladesh is about 11% . It's a very good news for Bangladesh. The demand of Bangladeshi textiles is increasing rapidly after passing a very bad situation during Covid-19 Pandemic in last two years. Hopefully Bangladesh will do well in the future in this textile sector.
