Given the current momentum of our GDP growth, it is only natural to expect the local industries to expand and diversify. On that note, the fact that the Pran-RFL Group has set a target of exporting products worth $1 billion by 2025 and $2bn by 2030 is definitely a step in the right direction.
What is more encouraging is the fact that the group has exported goods worth over half a billion dollars in the previous fiscal year, which is proof of the experience and past performance records needed to reach such an ambitious target.
Founded in 1981, the Pran-RFL group started its export activities in 1997 by sending products to France. Currently, the group is exporting food and non-food products regularly to 145 countries across the world. Records like this show that historically, the conglomerate has been a forerunner when it came to the export of domestic products.
Nowadays, the conglomerate can count on billion-dollar chain stores like Walmart and Tesco as part of their distribution network. All of this is ample proof that there exists a vast market for our locally grown products, and other companies need to look at both the success and lessons of the conglomerate to crack the export scene.
To reiterate, to maintain our current GDP growth momentum, it is important that we focus on diversification. About 80% of Bangladesh’s export earnings come from the RMG sector -- the epitome of keeping all our eggs in one basket. We need more companies to step up their ambitions to usher in a new era.