Bangladesh’s readymade garment sector is a ready market for textile goods, so investors' interest in the textile industry is increasing.Local and foreign entrepreneurs have been coming forward with fresh investment or reinvestment in the textile sector. A total of 1,457 fresh investment proposals were registered from local investors in fiscal year 2012-13. Since the readymade garment sector is growing significantly, demand for backward linkage accessories, including fabrics and textile items, is also rising.
Most textile units in the country are going to double their production capacity to meet the growing demand for fabric and yarn at home and abroad. Due to fresh investments, and growing demand for textile items, cotton consumption in Bangladesh will increase by seven per cent this fiscal year.
The textile sector is getting popularity among local and foreign investors thanks to export-oriented industries enjoying different types of incentives like tax holiday, warehouse facility and others.
