The ready-made clothing industry is the largest manufacturing sector and the largest contributor to Bangladesh’s GDP. With an annual export value of approximately $30 billion, Bangladesh currently exports ready-made clothes in the second-largest volume worldwide. Bangladesh’s export revenues hit a record high of USD 52.08 billion in FY22 despite global COVID-related uncertainty. Readymade Garments (RMG), which received USD 42.61 billion, took home the lion’s share as usual.
Bangladesh currently has about 4000 garment factories, and this figure is steadily increasing. The top 5 garment factories in Bangladesh include Posh Garments Limited.
Impact of Garments Factories on the Economy of Bangladesh
Bangladesh’s economy has transformed because of the garment industries, which have given millions of people jobs. Also, the clothing industry contributes significantly to the financial growth of our nation. According to statistics, textile exports surged by 60% between 2011/2012 and 2017/2018, making up close to 85% of all exports from the nation.
Bangladesh is currently the second-largest exporter of finished clothing in the world. They want to make $50 billion from this sector in 2020–2021. The majority of the factories are privately held or run by families. Priority should be given to garment companies and their employees to achieve economic development. The owners of the clothing factories ought to be aware of how serious the problems are.
Top 5 Garment Factories in Bangladesh
Although there are more than 4,000 garment factories in the nation, some of them have greatly boosted our economy. They include the Epyllion Group, Square Fashions Limited, Ha-Meem Group, Beximco, DBL Group, and Posh Garments Ltd among others.
1. Posh Garments Limited
One of the largest clothing manufacturers in Bangladesh is Posh Garments. The manufacturing component of this sector began in 1984. Posh Garments has a large range of garment production and a high production capacity, as well as over 1200 qualified employees and professional staff who work diligently to give the best goods to the clients. A variety of light materials and fabrics, including cotton, polyester, viscose, rayon, Tencel, satin, chiffon, and others, can be worked with by their skilled staff of over 1200 personnel. The industry may increase the value of the products by using various forms of wash, including enzymes, bleach, garment, cool dye, and so on.
Also, they produce shirts, baby gowns, pants, and school uniforms for kids. They offer a huge variety of men’s boxers, boxer shorts, and formal and informal shirts. In addition to producing workwear for professionals and employees, Posh Garments Ltd also produces uniforms for hotels and hospitals.
2. Square Fashions Limited
One of the top textile companies in the nation is Square Fashions. The industry produces a wide variety of ready-to-wear knit garments, including circular knit fabrics in a range of weights and ready-to-wear knit garments such as polo shirts, t-shirts, tank tops, pants, hooded jackets, and cardigans. It also produces sportswear and undergarments. They presently have two units for clothing and two for fabrics, each with the necessary tools for cutting, embroidering, printing, stitching, and finishing.
Its main fabric product categories are Single Jersey/Pique, Rib/Interlock, Fleece, Lycra/Viscose, Feeder Stripe/Engineering Stripe, Jacquard Fabric, Double Mechanized Fabric, Single Mercerized Fabric, Flat Knit Collar, Fully Fashioned Collar, and Jacquard Collar.
3. Ha-Meem Group
The Ha-Meem Group is a renowned wholesale garment manufacturer in Bangladesh and abroad. The corporation produces some of the most well-liked denim textiles and apparel items and has one of Bangladesh’s most extensive and inventive manufacturing facilities. They have spinning mills, weaving factories, sweater factories, in-house labs, and denim mills among their factories. Ha-Meem now works with some of the most famous fashion houses in the world.
The business began in the clothing sector some 40 years ago and has since expanded to encompass, among other things, printing, embroidery, labels, poly & packaging, carton, belt & tape, shipping, a TV channel, newspapers, and tea gardens. The clothing business is very important for generating foreign currency! Its three main fabric product categories are collar, fully fashioned collar, and jacquard collar.
4. Beximco Apparels Limited
As a joint venture between the Beximco Group and Comtrade Limited of Lausanne, Switzerland, Beximco Apparels Limited (BAL), a branch of the Beximco Group, started commercial production in March 1985. Comtrade Apparels Limited’s name has been changed to Beximco Apparels Limited as of January 1, 1997. Around 2.5 million high-quality women’s blouses and men’s dress/casual shirts are produced for well-known brands and retailers in the US, Canada, and Europe in this entirely export-focused clothing business. It is a well-known organization that has contributed significantly to our nation’s ability to generate foreign currency.
5. Opex Group
With a vertically integrated system for producing woven, denim, outwear, knit, and sweaters as well as the most cutting-edge equipment from the United States, Europe, and Japan, Opex Group is one of Asia’s top garment manufacturing companies. It is a privately held company with annual sales of $500 million and exports of $300 million. They manufacture knitwear, shirts, dress pants, casual pants, cargo shorts, quilted coats, denim clothing, and more. They have a dedicated Jacquard Sweater production line. They recently started a sizable initiative called “Denim Village,” which uses cutting-edge dyeing techniques and equipment.
The production of garments has long been a significant sector of the Bangladeshi economy. In addition to these 5 garment manufacturers, the nation is home to countless more industries. Every day, new garment industries are being founded, which is a sign of constant growth.
Every garment factory, no matter how big or little, serves the needs of the people and the nation. Bangladesh is still in the process of developing and has a long way to go. Several people are employed in the clothing industry, which makes them assets. The frequent denial of garment workers’ just compensation deters them from working in this industry.
Owners of clothing factories should guarantee timely payments for the employees as well as other requirements. The garment industry, which is essential to the functioning of our economy, depends heavily on its workforce. So, it is crucial to provide workers with a secure workplace.