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CONTRIBUTION OF TEXTILE INDUSTRY FOR SOCIO- ECONOMIC DEVELOPMENT IN BANGLADESH: A REVIEW.
Abstract — RMG (Ready Made garment) sector plays an immensely vital role for developing socio- economic condition in Bangladesh since the eighties. More than 80% of total export earnings of Bangladesh come from Textiles and Clothing manufacturing sector. There are more than five thousands garment factories in Bangladesh. Bangladesh enjoys GSP facilities for the Apparel sector to EU, Japan, Australia, New Zealand, Canada, and Duty Free Market Access to
China, South Korea, India and APTA scheme for China, South Korea. High value added apparel production is on the rise in the country. There is an indication of continuous positive growth in Knit & Woven garments export from Bangladesh. Not only the RMG product but also its supportive backward and forward linkage industry such as Garments accessories industry, diversified jute goods manufacturing industry, packaging industry also earns foreign currency which contribute export sector of Bangladesh. In this review paper I try to focus how RMG sector continuously contribute significantly to the economic growth in Bangladesh.
Keywords— Ready Made Garments (RMG);
Gross Domestic Product (GDP) growth; Backward and Forward Linkage ; Socio- Ecomnomic Development.