The rmg industry of bangladesh has expanded dramatically over the last three decades traditionally, the jute industry dominated the industrial sector of the country until the 1970s traditionally, the jute industry dominated the industrial sector of the country until the 1970s. Prospects and problems of rmg industry: a study on bangladesh the development of garments industry is considered as the priority area in the development policy in many countries, especially in bangladesh. Prospects and problems of rmg industry: a study on bangladesh md masud chowdhury, lecturer, department of finance and banking, jatiya kabi kazi nazrul islam university, trishal, mymensisngh-2220. Cost, the prospect for bangladesh in gaining additional market share of global rmg is bright to take advantage of this prospect bangladesh will need to take swift and firm actions to remove some of the.
Bangladesh has almost 40 years of experience in ready-made garment (rmg) more than 40 million people are working in this labour-intensive industry and at the same time billions of dollars have been invested in this sector. Industrial accidents have revived concerns over compliance in labor standards and worker safety, putting bangladesh's competitiveness in ready-made garments (rmg) at risk noncompliance in worker safety is a collective failure of the manufacturers, the buyers, and the government. Bangladesh economy remained strong and resilient despite external and internal challenges but there is a need for a growth focused agenda centered on sustainable and inclusive growth.
The last six years, this cash incentive may have helped bangladesh rmg exports become price competitive in new markets such as russia, india, china, japan, turkey, brazil, malaysia, south africa, south korea, saudi arabia, australia, and new zealand. Rmg contributes 76% of total exports in bangladesh major products of apparels include knit and woven shirts, blouses, trousers, skirts, shorts, jackets, sweaters, sports wears and many more. Readymade garment (rmg) is the leading sector of bangladesh in terms of employment, production and foreign exchange earnings (ali, 2008) despite the fact that bangladesh does not produce cotton, the country is the. The role and empowerment of bangladeshi women in rmg sector a slew of mechanical mishaps need throws those bangladeshi piece of clothing industry to a negative light.
In bangladesh, continuing growth of the rmg sector is dependent on the development of a strong backward linkage in order to reduce the lead time however, other factors constraining competitiveness of bangladesh's rmg exports included the absence of adequate physical infrastructure and utilities. Knitting, dyeing, sewing, finishing, packing and logistics are all done in-house in bangladesh factories seeing this, even chinese factories are shifting to the country to tackle surging cost issues. Supply chain efficiency or performance and the rmg (readymade garments) industry in bangladesh, we were able to collect some data from secondary sources rest of the case specific data were collected as primary. By swot (strength, weakness, opportunity & threat) we can analyze the problems & prospects of rgm industry.
Comply with the employment law, make your employee happy employment is a great deal of issue in the over growing business culture in bangladesh, the laws regarding employment is getting stricter and more conducive for the better prospect of the industry. 1 introduction the rmg industry has been treated as the backbone of the economic development of bangladesh the tag made in bangladesh has also brought glory and honour to the country. Bangladesh exports its rmg products mainly to the united states of america and the european union the readymade garments (rmg) sector plays a pivotal role in the economy of bangladesh this sector accounts for approximately 76% of the total export earnings and nearly 10% of gdp. Now the apparel industry is bangladesh's biggest export earner with value of over $2449bn of exports in the last financial year (from july 2013 to june 2014) despite the epic growth of our rmg industry, and its bright prospects, challenges are still there.
Rmg (ready-made garments) is the leading sector in bangladesh in terms of foreign currency earnings bangladesh is the second largest garments exporter next to china it contributes 80% of total export earnings. Prospects of the rmg industry in bangladesh despite many difficulties faced by the rmg industry over the past years, it cont inued to show its robust performance and competitive strength. The impressive success of the rmg sector, poor working conditions in the factories and the lack of social compliance 1 are serious concerns which have, since 2006, led to labour unrest and damage to institutions and properties.