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Bangladesh textiles has scope for Tk 50,000 cr investment

11
Jan '19
Bangladesh textiles has scope for Tk 50,000 cr investment
Addressing the infrastructural issues like supply of energy at an economical rate and easy availability of land, Bangladesh textile sector has the ability to attract investment of Tk 50,000 crore in over five years, said Bangladesh Textile Mills Association (BTMA). The demand for the local textile items is also increasing from the local and global markets.

Investment in the local fabrics will lessen the dependency on imports, majorly from India and China, said BTMA president Mohammad Ali Khokon at a press conference in Dhaka. In a year, the clothing manufacturers use 12 billion metres of fabrics for the exports of apparel. Of this, the local supply is of 3 billion metres of fabrics. The local woven fabric capacity can be increased up to 60 per cent in next five years if all the bottlenecks are addressed.

"So, we have a very good scope for further investment in this sector. We have already demanded a separate economic zone from the government to set up new industries," Khokon said, adding that total investment in the textile segment at present is Tk 70,000 crore.

The ongoing Dhaka International Textile and Garment Machinery (DTG) is showcasing latest innovations in the textile machinery segment. The trade fair connecting the local textile and apparel manufacturers with the global suppliers and buyers will conclude on January 12.

DTG is displaying new technology, state-of-the-art equipments, materials and services, as well as is an excellent avenue for international suppliers and visitors to expand business to the lucrative market and accelerate Bangladeshi technological advances that will impart effective quality, high speed and competitive cost to gain that all important edge in textile & garments industry. (RR)

Fibre2Fashion News Desk – India


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