Despite the tough economic conditions prevailing in most of the key global markets, the global fraternity of textile and apparel machinery manufacturers is upbeat on the prospects of the Bangladeshi industry and considers the markets to be a silver lining among dark global clouds. This mood is due to the ever increasing imports of plant and machinery by the sector in the second half of last year.
Ina bid to save precious foreign exchange on import of raw materials like fibre and yarn, the textile industry has invested huge amounts of money in setting up spinning mills across the country. More than 350 spinning mills have been set up in the last few years to feed the ever burgeoning demand of the garments industry. At the same time garment companies have also invested in upgraded machinery to keep up with the times.
According to statistical data available with the Bangladesh Textile Mills Association (BTMA, the apex body of textile mills in Bangladesh, in the period July to December 2008, the industry as a whole, imported plant and machinery to the tune of Taka 19.3 billion, of which 80 percent was intended for spinning mills alone. The wovens and knitted garment industry has also invested quite a big amount in machinery.
The recently concluded Dhaka International Textile and Garment machinery expo, which is billed as the second biggest textile and garment exhibition after ITMA, attracted around 600 leading textile and garment machinery manufacturers from around 30 countries, which is indicative of the attractiveness of the Bangladeshi markets to global textile and garment machinery suppliers, who are displaying their latest machinery at the fair.
Fibre2fashion News Desk - India
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