Prospects of Readymade Garments (RMG) Industry in the Development of Bangladesh (A Study on KP International, Uttara EPZ, Nilphamari
Date
2014-05
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
HAJEE MOHAMMAD DANESH SCIENCE AND TECHNOLOGY UNIVERSITY, DINAJPUR.
Abstract
The paper attempts to identify the prospects of Readymade Garments (RMG) Industry
in the development of Bangladesh. It highlights MFA, post-MFA period by analyzing
the current scenario, strength and weakness of Bangladesh’s RMG and potential
competitiveness in the world market in the coming years. This paper views the
emergence of RMG industry and the effect of it in the economy of Bangladesh. The
Ready-Made Garments (RMG) industry occupies a unique position in the Bangladesh
economy. It is the largest exporting industry in Bangladesh, which experienced
phenomenal growth during the last 20 years under the quota system of MFA. The
abolition of quota system thus brings new challenges for Bangladesh’s apparel
industry to continue its current status and enhance it in a free flow of apparel trade
era. In this paper, | am going to explore these possibilities. In order to do so, in first
and second section, | will discuss the emergence and structure of the RMG industry in
Bangladesh. The third section will discuss the post-MFA era, fourth and fifth section
will be devoted for the prospects, challenges and strategies for Bangladesh’s RMG in
new world trade order in apparel. The future of Bangladesh will become more
effective by the contribution of RMG industry in our country.
Description
Readymade Garments (RMG) are mass-produced finished textile products of the clothing
industry. They are not custom tailored according to measurements, rather generalized
according to anthropometric studies. They are made from many different fabrics and yarns.
Their characteristics depend on the fibers used in their manufacture.
Keywords
Objectives of the study, Limitation of the Study, Importance of the Study