The Future of RMG Industry of Bangladesh Confronting COVID-19 and Industry 4.0: A Thematic Analysis

Abstract

This research attempts to bring out the industry insights regarding the extent of the COVID-19 pandemic on Bangladesh’s readymade garments (RMG) industry, looming challenges of preparing the industry for the immensely challenging Industry 4.0 revolution, and the industry’s preparedness to overcome these challenges and sustain. Using the thematic analysis method, the information was collected through in-depth interviews with 29 factories selected by stratified purposive sampling. The research reveals a number of recommendations and policy suggestions from the respondents. Having high value added and sophisticated RMG products in export basket, facilitating relevant logistical supports, arranging required capital for factory up-gradations and necessary training of the workers, reducing import duty and taxes on raw materials, implementing a one price policy, continuing the production facilities at the factories safely have come out as some of the crucial strategies to confront the challenges, accelerate growth, and increase profit.