Economic Reporter :
Aligning business strategies with changing trends in the fashion industry and building capabilities accordingly are a must to sustain in the global competitive market, speakers have said.
They came up with the remark while speaking at an inaugurating ceremony of a three day-long exhibition of the 9th edition of Intex South Asia organized Worldex India at a convention hall in Dhaka on Thursday.
Speaking at the event, Textiles and Jute Minister Golam Dastagir Gazi said the government has implemented various programmes to accelerate the development and modernisation of the textile industry and to increase the demand in the domestic and international markets.
“The government is providing all sorts of policy supports to the private sector to run their business smoothly,” the minister said.
He hoped that the combination of the country’s economically viable workforce, advanced technology-based power and energy and skilled human resources will enable the textile sector to become more efficient and competitive.
“Through such international exhibitions and mutual cooperation, more possibilities of the textile sector will be unveiled,” he added.
Faruque Hassan, President of the Bangladesh Garments Manufacturers and Exporters Association (BGMEA) said aligning business strategies with changing trends in the fashion industry and building capabilities accordingly are a must to sustain in the global competitive market.
Globally the apparel industry is undergoing rapid and notable changes mostly driven by evolving technologies, and requiring businesses to cope up with new business landscape, he said.
Bangladesh’s RMG industry is focusing on remodeling business, product diversification, and technology upgradation to remain sustainable and cost competitive, he added.
Faruque Hassan made the remarks while addressing the inaugural ceremony of the 9th edition of Intex South Asia as a special guest.
In his speech the BGMEA President said Bangladesh’s apparel industry is laying emphasis on non-cotton products as the man-made fiber has been dominating the global market for a long time, and would be continued in the coming days as well.
Manufacturing landscape would be influenced by 3Cs – Cost, Competitiveness and Closeness while industry 4.0 would be the key for achieving manufacturing and supply chain excellence, he said.
Faruque Hassan also stressed on the exchange of knowledge, expertise and technologies within the South Asian region, saying the cooperation and collaboration is very important for sustainable and inclusive growth and development.
More than 120 companies from Bangladesh, India, Korea, China, Thailand, Singapore, UAE, Italy, USA, and several other countries are showcasing the latest offers for Bangladesh’s textile and garment industry at the fair to be concluded on Saturday.
Executive President of BKMEA Mohammad Hatem, Managing Director of Worldex India Rajesh Bhagat, and Director of Worldex India Arti Bhagat also spoke at the event.
