Home / Knowledge / News / Apparel/Garments / B'desh seeks foreign investment in denim industry
B'desh seeks foreign investment in denim industry
03
Mar '16
A top Bangladeshi official has urged foreign denim manufacturers to invest in the country's denim sector which has enough opportunities in the face of rising demand.

Gowher Rizvi , International Affairs Adviser to the Prime Minister, made the statement while inaugurating a two-day Denim and Jeans.com Bangladesh show in Dhaka. The expo displays jeans and denim products along with fabrics to local and foreign jeans manufacturers.

“Bangladesh has become a global player in manufacturing RMG products and there is no reason that it cannot be the number one manufacturer in the world,” Gowher said.

He said Bangladesh could become the world's largest supplier of clothing products because China was shifting its business from clothing to high-end industry

The adviser added: “Bangladesh has made lots of investment in power and infrastructure. So you (foreign investors) can come up with your investment here in manufacturing industry.”

“Bangladesh now exports denim products of $2 billion annually. The figure will increase and we want to raise our 2021 RMG export target.”

Gowher was backed by Dhaka Chamber of Commerce and Industry (DCCI) Acting President Humayun Rashid who said Bangladesh should be considered as a place of investment, not a source of import only.

“It is high time to invest in Bangladesh's denim industry as the country is increasingly becoming a lucrative place of sourcing denim products,” he said, claiming that by 2021 Bangladesh's denim export will reach $7 billion.

Envoy Textile Assistant General Manager (Marketing) Rizwanul Karim said the expo was a platform to inform the global consumers as well as the buyers about the capacity of Bangladesh Denim industry.

Square Denim deputy manager Muhammad Zakir Hossain said since the denim industry was an emerging sub-sector of the RMG industry, the government should offer special policy support on import chemicals needed to produce denim.

He said since the manpower was available in the country, investment could produce good returns.

“Considering the rise of demand, we are going to increase production capacity to 2 million yards from existing 1.5m yards per month, Zakir said.

India's Nandan Denim is also a participant at the expo. The company's Director, DK Jain said, “Bangladesh is highly potential country for us as it supplies products to the European and United States market. Bangladesh is a good source of garment products, even India imports from Bangladesh.” (SH)

Fibre2Fashion News Desk – India

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search