Home / Knowledge / News / Apparel/Garments / RMG sector succeeds by defeating all odds in 2010
RMG sector succeeds by defeating all odds in 2010
03
Jan '11
The readymade garment (RMG) sector of the country, in spite of facing many ups and downs throughout the year, succeeded to maintain itself on track during 2010, which is highly attributable to a healthy rise in exports. Though, the beginning of the year was not that great, but then a large number of orders started coming in as some of the western countries revived from the effects of recession.

Availability of low-cost labour also helped in switching the attention of the buyers from China to Bangladesh. The garment firms too devoted more time than earlier in evolving new quality and designs for their existing as well as new customers. Also the news of the EU relaxing the 'rules of origin' for Bangladeshi garments from January 1, 2011 too gave rise to more hopes.

On the other hand, the workers' strife for higher wages kept raising the concerns of the industry time and again throughout the year. Also a new minimum wage package was introduced for the workers during the year; however, it met with mixed response from workers.

Regardless of the issues like gas and power crunch, inadequate infrastructural facilities and workers' strife, the sector's exports witnessed a further hike.

As revealed by the Export Promotion Bureau statistics, the knitwear and woven products exports jointly registered a rise of 36.36 percent during the July-November period, as over the corresponding period last year.

Whereas the knitwear exports registered a 36.56 percent growth and stood at $3.6 billion, and woven product's exports too marked a growth of 35.83 percent growth at $2.89 billion.

The mid part of the year saw many garment firms ceasing operations for few days following the workers' strife. The government fetched a solution to the issue by introducing the new minimum wage structure pursuant to which the minimum wage for workers was raised from Tk 1,662 per month to Tk 3,000 per month.

The government, on January 14, 2010 constituted a Minimum Wage Board comprising of six members for formulation of the new wage which became effective since November 1 onwards.

In view of the exporters, government officials and industry experts, the robust growth of the sector was attributable to the revival of western countries from the effects of economic crisis, availability of low-cost labour, production of primary garment products and the shift of customers from China.

Fibre2fashion News Desk - India


Must ReadView All

Apparel/Garments | On 26th Sep 2017

US raises annual AGOA quota for textiles

The US Committee for the Implementation of Textile Agreements has...

Textiles | On 26th Sep 2017

Gujarat hopes extended textile policy to attract Rs 5000 cr

The Gujarat government feels that its recent decision to extend its...

Apparel/Garments | On 26th Sep 2017

Cash burn by e-tailers in India may double during festivals

During this year’s festival season, which has already started,...

Interviews View All

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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

September 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search