The readymade garment industry in Bangladesh will have to focus on three key elements: positive promotion of branding, technological capability and interest of economy, say experts. There was a shortage of capacity in the readymade garment industry but now the situation has changed as there are technologies available. At present the country has only a six per cent share of the global market in readymade garments. It is looking to have a bigger share. Machinery and technology have to be modernized.

Since online selling and buying has increased in the global market, 96 per cent of the goods being bought are being bought at a discount or bought with different offers. As a result, buyers are unwilling to pay more to suppliers. With the recent fluctuation of different currencies, the country has to take measures to keep the value of its currency stable.

Spain has a much higher cost of labor than does Bangladesh but has still managed through the use of technology to be competitive in the clothing industry. Similarly Italy and Mexico use technology to reduce the cost of production of their products. Bangladesh has a goal of doing $50 billion in readymade garment exports by 2021.