Local garment accessory industry meets 80pc demand
\nRefayet Ullah Mirdha
\nThe Daily Star, Bangladesh<\/p>\n
<\/p>\n
Around 80 percent demand for accessories used in exportable garment and knit items are now locally met as more than 100 accessory manufacturing industries have so far sprang up in the country, according to industry insiders.<\/p>\n
They said on expansion of readymade garments (RMG) and knitwear markets overseas since 1990, such accessory factories have been thriving with over 20 percent growth per annum.<\/p>\n
“Previously, Bangladesh was totally dependent on import of this intermediary item for using in RMG and knit products,” said an exporter, adding that then the local businessmen’s main source of such items was Hong Kong.<\/p>\n
RMG makers said the demand for accessories has been on the rise because they have resorted to transfer of production to value added items in order to sustain global competition.<\/p>\n
The contribution of accessories in exports of garment and knit items is more than 10 percent meaning US$1.0 billion per year, according to S A Nasir, a local garment buyer.<\/p>\n
He said excepting those of buyers’ choice, the local producers of accessories supply cartoon, zippers, button, pocketing fabrics, hangtag sewing thread to the garment and knit manufacturers from their industrial units.<\/p>\n
Nasir, however, pointed out that the local industries have yet failed to manufacture some costly accessories like ornamental stones, belt and clips for using those in brand exportable garment items, which are now being imported mainly from Hong Kong.<\/p>\n
When asked about spring up of accessory industries here, a senior official of Dekko Group, one of the largest local manufacturers of accessories, said entrepreneurs come forward with huge investment as establishment costs for such units are comparatively low.<\/p>\n
An entrepreneur can set up a full fledged accessories industry in Bangladesh at a cost of Tk 40 crore, whereas more than Tk 1billion is required for setting up even a small textile mill or woven factory, he said.<\/p>\n
According to him, at present, more than 100 factories are in operation in Bangladesh to produce and supply of accessories to the garment manufacturers.<\/p>\n
He said a little quantity of accessories are being exported to China, India and Vietnam.<\/p>\n","protected":false},"excerpt":{"rendered":"
Local garment accessory industry meets 80pc demand Refayet Ullah Mirdha The Daily Star, Bangladesh Around 80 percent demand for accessories used in exportable garment and knit items are now locally met as more than 100 accessory manufacturing industries have so far sprang up in the country, according to industry insiders. They said on expansion of […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"\n