Overwhelming investment proposals in T&C industry

03 Dec '08

1 min read

Riding on the boom of the exported oriented textiles and garment industry the government has received innumerable proposal for investments in the sector in the current year. The investment envisaged in the sector reached a staggering Taka 176,840 million in the period January-October 2008.

According to statistics of the Board of Investment (BoI), it has received 1,217 investment proposals from across all sectors, out of which 953 proposals were from the textile and garment industry alone.

Again from amongst these, 643 are in textile and apparel units with investment proposals worth Taka 82,120 million, 177 are related to dyes and chemicals amounting to Taka 15,850 million and the rest 133 proposals aggregating to Taka 29,930 million are meant for investment in the service part of the sector.

Industry experts consider the proposals of investments in the dyes and chemicals and service sub-sectors as, investments in backward and forward integration projects respectively.

The investments in the backward integration projects have been well taken by association bodies and industry experts alike. They say that these investments will reduce the import dependency on these products and also reduce valuable foreign outgo.

Fibre2fashion News Desk - India

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