Bangladesh spinning industry needs proper support

spinning3Bangladesh spinning industry of the country is more than four decades old. But foreigners dominate top positions in mills. Employing overseas persons not only drains out foreign currency but also results in unemployment and frustration for local professionals and technicians. Spinning mills in Bangladesh are contributing remarkably to the growth of the readymade garment industry of the country. The spinning industry of Bangladesh with 12.50 million spindles is capable of meeting 95 per cent of the yarn demand of the garment sector. Wovens, sweaters and home textiles are mostly based on imported fabrics and yarns, and the spinning industry can meet 40 per cent of their yarn requirements. Bangladesh’s knit and denim garment sector has already developed a very strong backward linkage industry — spinning-knitting/weaving-dyeing and finishing — which are mostly made with cotton and cotton blends of different kinds. The cost of cotton is 60 per cent to 70 per cent of the total cost of a spinning mill. Last year Bangladesh, the biggest importer of cotton in the world, imported 7.20 million bales of cotton. Spinning is a power hungry industry that mostly depends on captive gas generators. It is important for the industry to be assured of uninterrupted power at reasonable cost in the long run.