At a recent event, Prime Minister Sheikh Hasina unveiled her Government’s strategy to establish area-based tannery industries (industrial estates) in various locations, including Chittagong and Rajshahi, within the country, following a phased approach.
She also announced the creation of a leather industry development authority aimed at fostering the growth of the nation’s leather and leather goods sector.
Sheikh Hasina emphasised that these initiatives have the potential to significantly elevate the preservation, processing, and utilisation of leather, even as she noted that this development could transform the leather industry into a major economic force for the country.
It may be mentioned here, that the leather industry in Bangladesh, one of the country’s most longstanding sectors, stands as the second-largest contributor to Bangladesh’s export earnings, following the renowned RMG (Readymade Garments) sector.
In the fiscal year 2022-23, this industry generated a total revenue of US $ 1.22 billion, marking a slight decline in growth at 1.74 per cent compared to the preceding fiscal year.
This noteworthy industry has weathered the challenges of export declines in the fiscal years 2016-17, 2017-18, and 2018-19 before bouncing back in the fiscal year 2021-22.
