Textile Industry In Bangladesh Case Study

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3.0 Textile Industry in Bangladesh and European Union “Made in Bangladesh” is not merely a phrase that denotes the origin of high-quality clothing, but for the last few years, it has also become a symbol of identity and pride to the remote Southeast Asian country of Bangladesh and its 160 million people. Considered as the single most powerful source of revenue in the economy of the developing nation of Bangladesh, the textile industry, thriving mostly in the Ready-Made Garments Sector has gained incredible momentum in a very short time. A sector of high potential for Bangladesh and the importing partner countries, the Textile Industry of Bangladesh has been promising not only in ready-made garments but also in terms of yarn and dye. On the …show more content…

As of the July-May period of the FY 2016-17, in case of the total earnings from export, readymade garments has contributed to $25.62 billion which is 80.59% of the country's export earnings, marking a growth of 2.16% compared to its previous performance. (Ovi, 2017) 3.1.3 The struggles the industry went through and the risks that still remain On 24 April 2013, the world watched in horror as the Rana Plaza Tragedy took away lives of 1,136 workers trapped in a collapsed building that had housed garments factory in an extremely risky and unsupervised condition. Just after a couple of months of the horror, 112 more lost their lives in a huge fire at the factory of Tazreen Fashions. (Amin, 2015) Owing to the cheap labor and other infrastructural inadequacies in Bangladesh, accidents in garments factories are quite frequent. Although a lot of initiatives have been taken and authorities have been faced with strikes from the laborers, the condition still remains quite unchanged. This situation has raised hues and cry from human rights organizations and the world citizens alike, and there is an ongoing debate about whether such big parties as the USA and EU should continue to operate in

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