Textile sector in Bangladesh needs $1.19 billion investmentStaff Writer | February 11, 2019
Bangladesh needs Tk 10,000 crore ($1.19 billion) additional investments in the primary textile sector to reduce its import dependence for fabrics for the export-oriented garment sector.
Asia In 2018 Bangladeshi garment exporters imported 5.52 lakh tonnes of fabrics
“As we cannot meet the full demand, China and India fill in the gap,” said BTMA President Mohammad Ali Khokon.
The local textile millers can supply 4 billion metres of fabrics, so Bangladesh imports 6 billion metres of fabrics from China and 3 billion metres from India.
Currently, the local textile millers can meet 85 percent of the demand from the knitwear sector and 35 percent from the woven sector, according to data from the BTMA.
“We need to build another 20 big textile mills which will be able to supply quality fabrics to the local garment exporters,” Khokon said, adding that it will take Tk 500 crore to set up each new textile mill.
The primary textile sector will be able to add more value in the garment sector, which typically rakes in more than 82 percent of the export receipts in a year.
“We want a textile palli (village) as the government has been establishing 100 special economic zones across the country.” ■