Investment in technology is needed to make the country’s apparel industry more competitive, sustainable and profitable towards attaining US$ 50 billion export goal by 2021, speakers at a seminar said.
Besides, infrastructure bottle necks and capacity constraints, which are the threat to prosperity, needs to be removed to attract more investment in industry, they observed.
Their observations came after an intense brainstorming panel discussion at a seminar on “Bastra Shilper Adhunikayan (Modernization of Apparel Industry)” in a city hotel Tuesday, a press release said today.
The objective of the seminar is to iron out a solution for making the dream of earning additional US$ 22 billion from garment exports in next five years into a success.
The panel comprises from different sectors, including high government and non-government, banks, RMG industry, think tanks and IT officials.
Senior Commerce Secretary Haydayetullah Al Mamun, BGMEA President Siddiqur Rahman, Senior Research Fellow, BIDS, Nazneen Ahmed, Chairman & Managing Director, Amber Denim Showkat Aziz Russell and Mansij Ganguli, Co-founder & CEO ThreadSol were the discussants at the seminar.
Mohammad Zahid Hossain, special affairs editor of Independent TV moderated the panel discussion.
Speaking at the panel discussion, experts said globalization is widely forcing textile producers to use technology that improves productivity through process improvement, product innovation and new worker skills, and helps serve the customer more efficiently.
Manasij Ganguli said intelloCut was developed to give manufacturers the edge to reduce their material wastage by using the effective concepts of fabric utilization and streamlined cutting room processes, while at the same time boosting profits by up to 60 percent.
Along with investment in technology, the seminar also put emphasis on attracting more investment in developing infrastructure and building capacity.
After the discussion, the panelists came to the conclusion that to achieve US$ 50 billion export target earning in the next five years, there is no other choice than the application of technology, reports BSS.