Speakers at a discussion said to enhance growth in the country’s Ready Made Garment (RMG), industry will have to focus on three key elements — positive promotion of branding, technological capability and interest of economy.Industry insiders made their comments in a roundtable discussion titled ‘Country’s Garment Industry–Future Possibilities and Challenges’ organised by The ‘Samakal’ along with Threadsol which held at a hotel in the capital on Sunday. Threadsol, an innovative service provider to reduce the production costs of the industry with its innovative solutions. Speaking at the occasion, President of Bangladesh Textile Mills Association (BTMA) Tapan Chowdhury said “There was a lack of capacity in the ready-made garment industry but now the situation has changed greatly as there are technologies available out there to overcome our shortcomings” Great changes could be seen at the end of next year, he added. Attending at the programme, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Siddiqur Rahman said “At present we have only 6 per cent share of the global market in ready-made garments. It is nothing; there is huge opportunity to increase the market share” He also said the machinery and technology will have to be modernized in these areas.Chief Executive Officer of Threadsol Manasij Ganguli said, “Online selling and buying has increased in the global market”. Again, 96 per cent of the goods are being bought in discount price or bought with different offers, he added. “As a result, it is unlikely that buyers will pay more to the suppliers. In the US market, Amazon.com sold 16 billion dollars’ worth of products online last year and it has closed 1300 retail outlets of 16 big brands”, he also said. Comparing the production cost, Ganguli said, the cost of labour in Spain is much higher than Bangladesh. Despite this, the country is well-built in the clothing industry’s competition market. This is possible only through the use of technology. Italy, Mexico, using technology to reduce the cost of production of their products, he further said. Former BKMEA President Fazlul Haque said there is a dream and courage of the garment sector. The government is also supporting this sector; but the cooperation is coming according to the need. Cooperation is not being planned according to any plan.He also said, to achieve the goal of exporting $ 50 billion by 2021, specific plans have to be done. Former vice-president of BKMEA President MD Hatem said at present there are many obstacles to export. With recent fluctuation of different currencies in the global market, the government needs to take measure immediately to keep value of Taka stable. Even though the interest rates on bank loans are low, they are not really low, he added.Centre For Policy Dialogue (CPD’s) Research Director Khondaker Golam Moazzem said that, according to the demand of the current global market, now will have to go from low-cost garments to more costly garments. Bangladeshi entrepreneurs have already started it.BGMEA’s former Vice President Shahidullah Azim, Joy Auto Garment Managing Director Helena Jahangir, Zia Apparel Managing Director Zia Ahmed, Ha-Meem Group Director Kamal Hossain were also present in the discussion.
