Posted On: 13 Feb 2023By: Admin
Bangladesh is
one of the largest exporters of ready-made garments (RMG) in the world. The industry
accounts for approximately 84% of the country’s total exports and employs more
than 4 million people, mostly women. The garment industry has played a
significant role in the economic development of Bangladesh and has become the backbone
of its economy.
Bangladesh’s
garments industry has come a long way since its humble beginnings in the late
1970s. What started as a small, family-owned business producing simple garments
for the domestic market has evolved into a major player in the global market,
providing significant employment and foreign exchange for the country.
In the 1980s
and 1990s, Bangladesh emerged as a leading garment-producing country, with the industry
growing rapidly and providing significant employment and foreign exchange for
the country. The industry growing rapidly and providing significant employment
and foreign exchange for the country. Government
policies that promoted investment and exports and friendly labor costs were
driving forces behind the industry.
Despite its growth, the Bangladesh garments industry faced
numerous challenges, including poor working conditions, low wages, and a lack
of health and safety standards. In response to these challenges, the Bangladeshi
government and international organizations have worked together to improve working conditions and promote better rights for workers in the
industry.
In recent years, the Bangladesh garments industry has
continued to grow, with exports reaching record levels. The country has become
a major source of clothing for international brands and retailers, with products
ranging from basic t-shirts and jeans to high-end fashion items. The industry now
employs millions of people and provides significant employment and foreign exchange
for the country.
Bangladesh's garments industry is a true testament to the power of growth and transformation. Despite its challenges, the industry has continued to evolve and play a vital role in the country’s economy, providing employment and income for millions of people and helping to put Bangladesh on the map as a leading garment-producing country. The journey of growth and transformation for the Bangladesh garments industry is a story of resilience, determination, and success, and a source of pride for the people of the country.
Mahmud Saikot, operation analyst, AR Sourcing Bangladesh.