The Bangladesh Textile Mills Association (BTMA) has warned that the country’s spinning industry is nearing collapse, calling on the government to take immediate policy measures to prevent severe disruptions across the textile and garment export supply chain. The warning came at a press conference organized by BTMA on 28 December at the Gulshan Club, where industry leaders highlighted mounting financial and operational pressures on spinning mills.
The press conference was attended by Showkat Aziz Russell, President of BTMA; A. Matin Chowdhury, Former President of BTMA, Mohammad Ali Khokon, Former President, BTMA; BTMA Directors Khurshed Alam and B.M. Shoeb; Former Vice President Saleuzzaman Khan; Former Director Engr. Razeeb Haider; and other senior stakeholders from across the textile value chain.
Addressing the media, BTMA President Showkat Aziz Russell highlighted the critical challenges facing the spinning sector, citing soaring interest rates, high energy prices, and unfair competition from low-priced Indian yarn imports. He noted that Indian yarn is entering the Bangladeshi market at prices lower than production costs, creating an uneven playing field for local manufacturers.
BTMA directors said prolonged financial stress, reduced incentives, high interest rates, and rising energy costs have pushed many spinning factories into a critical condition. They cautioned that continued factory closures would have far-reaching consequences, including job losses for millions of workers, increased exposure for banks and financial institutions, and a weakening of Bangladesh’s competitiveness in the global apparel market.
Industry leaders also expressed concern that without urgent intervention, Bangladesh’s textile and garment sector would become increasingly dependent on imported raw materials, eroding the country’s long-standing backward-linkage strength that has supported export growth over the years.
BTMA urged the government to revise duty structures, restore and enhance incentives, and ensure at least 50 percent local yarn sourcing to protect domestic spinners. The association stressed that timely policy support is essential to safeguard employment, stabilize the industry, and protect the country’s $22 billion textile value chain from further damage.
