DHAKA: Pointing out that investment in technology is at a nascent stage in Bangladesh garment industry, speakers at a seminar said that investment in technology is essential for achieving $50 billion export target by 2021. Investment in technology will also make the country’s clothing industry more competitive, sustainable and profitable, they said. Garment exports fetched $28 billion for Bangladesh last year. The aim of the seminar ‘Bastra Shilper Adhunikayan (Modernisation of Apparel Industry)’ was to iron out a solution for earning the additional $22 billion from garment exports in next five years to achieve the target of $50 billion by 2021.
Representatives of readymade garment industry, government, financial institutions, think tanks and IT officials discussed the various steps that need to be taken to realise the target. Globalisation is forcing textile manufacturers to use technology that improves productivity through process improvement, product innovation and new worker skills, while helping to serve the customer more efficiently, they said. Besides investment in technology, speakers stressed on attracting more investment to remove infrastructure bottlenecks.
The seminar was organised by ThreadSol, an innovative apparel software solutions provider, in partnership with Independent TV, a leading private television channel. ThreadSol co-founder and CEO Mansij Ganguli said his company has developed intelloCut to give manufacturers the edge to reduce their material wastage by using the effective concepts of fabric utilisation and streamlining cutting room processes, while at the same time boosting profits by up to 60 per cent.
