Bangladesh’s primary textile sector has received a whopping Taka 5,000 crore as proposed investment in nine months (January-September period) of 2021 as businesses set up new mills and expanded existing capacities to cater to the heightened demand for raw materials even as industry people have maintained, thanks to mass vaccination programmes, demand for apparels has increased in the global market including the traditional export strongholds of Europe and USA, which have started to rebound from the pandemic (coronavirus) shocks.
Media reports maintained this while adding that the country’s primary textile sector saw the changed situation as an opportunity for Bangladesh as buyers were placing orders with shorter lead times while also shifting their orders from China even as according to the industry people most of the big companies in Bangladesh had invested in capacity expansion to make the most of this opportunity.
Meanwhile, speaking to the media, Mohammad Ali Khokon, who is the President of the Bangladesh Textile Mills Association or BTMA, reportedly, maintained that at least 25 new mills with 25 lakh spindles will become operational by 2023 even as the total investment in the units would reach US $ 2.5 billion and would create new jobs opportunities for one lakh people while according to the BTMA’s official statistics, at least 14 new mills with investments worth more than Taka 5,000 crore had, reportedly, registered with it (BTMA) in the first nine months of 2021.
