Textile Industry is the main foreign remittance earning sector for Bangladesh. This industry suffered a lot during the COVID -19 pandemic. Now the industry is trying to recover the gaps. According to many sources it is evident that most of the export-oriented garments factories are packed with business orders up to April 2022.
Team Textile Focus talked with different factory owners regarding how to capitalize on this situation and what is the way forward to ensure maximum profit out of it. Navidul Huq Director, BGMEA & Managing Director, MG Knit Flair Ltd shared his views-
Because of the demand post covid worldwide Bangladesh is blessed with an influx of orders. Power and energy shortage issue in China is also a worrying situation for buyers so they are looking at Bangladesh. But the reality is that raw material price increases have wiped out our nonexistent margins even more.
Most factories are losing money doing orders in the current scenario. It’s time as an industry we work on pushing prices up so that we can sustain. Retailers all around the world have increased their selling prices for clothing. It’s time factories also increase their selling prices so that they can also sustain.