Aligning business strategies with changing trends in the fashion industry and building capabilities accordingly is a must to sustain in the global competitive market, said Faruque Hassan, President of BGMEA.
Globally the apparel industry is undergoing rapid and notable changes mostly driven by evolving technologies, and requiring businesses to cope with the new business landscape, he said.
Bangladesh’s RMG industry is focusing on remodeling business, product diversification, and technology up-gradation to remain sustainable and cost-competitive, he added.
Faruque Hassan made the remarks while addressing the inaugural ceremony of the 9th edition of Intex South Asia as a special guest.
Honorable Minister of Textiles and Jute Minister Golam Dastagir Gazi (Birpratik), MP attended the program as chief guest, which was organized by Worldex India in Dhaka on June 16.
Executive President of BKMEA Mohammad Hatem, Managing Director of Worldex India Rajesh Bhagat, and Director of Worldex India Arti Bhagat also spoke at the event.
In his speech, the BGMEA president said Bangladesh’s apparel industry is laying emphasis on non-cotton products as man-made fiber has been dominating the global market for a long time, and would be continued in the coming days as well.
The manufacturing landscape would be influenced by 3Cs – Cost, Competitiveness, and Closeness while industry 4.0 would be the key to achieving manufacturing and supply chain excellence, he said. Faruque Hassan also stressed the exchange of knowledge, expertise, and technologies within the South Asian region, saying that cooperation and collaboration are very important for sustainable and inclusive growth and development.