Readymade garment industry in Bangladesh has been successful for the past two decades, generating employment for 2 million workers directly, and 10 million; indirectly.
The industry generates 75% of the total export revenues of the country. Readymade garment industry is one of the most significant social and economic developments in Bangladesh.
This sector is considered as the life blood of the country's economy; playing a pivotal role in the social stability f the country. Development of Central Bonded Warehouses (CBW) has aided the multi billion dollar manufacturing and export industry in Bangladesh.
This is a short term strategy where raw materials can be stocks in bulk, then the required fabric may be distributed to the garment industry as and when necessary, thus fulfilling the demand in advance.
On the contrary, some analysts also argue that CBW will destroy the local textile industry. But, the benefits of CBW are enormous; increasing competitiveness by lower costs, reducing lead time, and providing more value addition.
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Fibre2fashion News Desk - India
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