• Tuesday, Feb 25, 2020
  • Last Update : 12:27 am

Innovate to stay in the game

  • Published at 02:50 pm January 11th, 2020

The market of the 21st century will be one that is ecologically aware, and sustainable

There is no doubt that our ready-made garment industry has been the driving force of our economic growth in recent times. It is the largest contributor to our GDP, it fetches billions in export earnings, and it employs millions of people, and steady creates jobs for the future.

But it is also true that the industry cannot take such successes for granted, especially as we move into a future where business practices are rapidly changing.

At a program held at the Bangabandhu International Conference Centre on the occasion of National Textile Day 2019, Prime Minister Sheikh Hasina made the observation that the industry needs to pay attention to diversification of products in the export basket, and to the evolving demands in the international market, when it comes to things like design and colour.

We must face the reality that buyers have an increasing number of options nowadays, and soon, Bangladesh may no longer have the advantages it once did. We can, however, stay relevant buy innovating, staying on top of changes to the market, making sure we are using cutting edge equipment, and of course, as the PM has suggested, diversifying our product basket.

These things will keep our economy going, and may one day propel us into the status of a developing nation, but the benefits go far beyond material wealth. As we evolve our textiles sector to become more and more environmentally conscious, we do our part to minimize waste, fight climate change, and protect the planet from harm. 

The market of the 21st century will be one that is ecologically aware and sustainable, and we need to get on board, or be left behind.