Business Trend Analysis of RMG Industry in Context of Bangladesh-A Case Study
DOI:
https://doi.org/10.15282/ijim.14.1.2022.7327Keywords:
RMG sector, Garments, Industry, Export, EconomyAbstract
Bangladesh has made a tremendous contribution to RMG (Ready Made Garment) sector since the 1970s. Textiles and apparels consider for about 85% of the total export earnings of Bangladesh. Though it’s quite difficult to mete out the dimension of performance and objection of the RMG sector in Bangladesh but to fulfill the task this study has made a search based on the study of attainable documents. The beauty of this study lies in its way of narration, a sequential way of description. The study discovers that since its inception, the RMG industry contributed significantly to our economy especially during the last three decades. The cross-check analysis has been conducted to compare the last three decades’ export of RMG, specific garments export, GDP, market share, etc to get a lucid idea of the business trend of the RMG industry. These initiatives focus more on the establishment of sound structure, skilled manpower, enhanced market access, access to finance at the competitive interest rate, adaptation with advanced technology as well as institutional development. Therefore, both public and private sectors need to take several preliminaries, independently and collaboratively to overcome these challenges. Moreover, to take control and reserve the golden share of RMG, assured branding needs to be expansive.
References
Ahamed, F. J. (2013). Background of History of Bangladesh and Ready-made Garment Industry: Key challenges in the RMG Industry. Middle East Journal of Business, 8(1).
Alama, S., Chowdhury, S. R., Basharc, A., & Hoqued, M. A. J. (2020). Factors Affecting Occupational Injury and Death: Insights from Ready-Made Garments Industry of Bangladesh. TEST Engineering & Management.
Baumann-Pauly, D., Labowitz, S., & Stein, N. (2018). Transforming the garment industry in Bangladesh: Sharing responsibility Sustainable fashion (pp. 41-50): Springer.
BGMEA, B. G. M. a. E. A. (2006). About Garments Industry of Bangladesh, 2006.
BGMEA, B. G. M. a. E. A. (2014). About Garments Industry of Bangladesh, 2014.
BGMEA, B. G. M. a. E. A. (2020). About Garments Industry of Bangladesh, 2020.
Chandra, S., & Ferdaus, J. J. E. (2020). Contribution of Ready-Made Garments Industry on the Economic Development of Bangladesh: An Empirical Analysis. 7(2), 295-307.
Chowdhury, M. A. M., Ali, M. M., & Rahman, R. J. (2006). WTO, post-MFA era and the Bangladesh RMG sector: An assessment of performance and challenges. South Asian Journal of Management, 13(1), 76.
Chowdhury, M. M. M., Hoque, N., & Kabir, M. J. (2015). Work-Life Balance of Female Garment Workers in Bangladesh: An Imperial Investigation. Global Journal of Management And Business Research.
Farhana, K., Syduzzaman, M., & Munir, M. S. (2015). Present Status of Workers in Ready-Made Garments Industries in Bangladesh. European Scientific Journal, 11(7).
Farhana, K., Syduzzaman, M., & Munir, M. S. J. (2015). Present status of workers in ready-made garments industries in Bangladesh. European Scientific Journal, 11(7).
Haider, M. Z. J. (2007). Competitiveness of the Bangladesh ready-made garment industry in major international markets. Asia-Pacific Trade and Investment Review, 3(1), 3-27.
Hasan, K., Mia, M. S., Rahman, M., Ullah, A., & Ullah, M. J. (2016). Role of textile and clothing industries in the growth and development of trade & business strategies of Bangladesh in the global economy. International Journal of Textile Science, 5(3), 39-48.
Kabeer, N. J. (1991). Cultural dopes or rational fools? Women and labour supply in the Bangladesh garment industry. The European Journal of Development Research, 3(1), 133-160.
Mia, S., & Akter, M. J. (2019). Ready-Made Garments Sector of Bangladesh: Its Growth, Contribution and Challenges. Economics, 7(1), 17-26.
Mostafa, R., & Klepper, S. J. (2018). Industrial development through tacit knowledge seeding: Evidence from the Bangladesh garment industry. Management Science, 64(2), 613-632.
Motlagh, J., & Saha, A. J. (2014). The Ghosts of Rana Plaza: In Bangladesh, one year after the worst accident in the history of the garment industry, recovery remains a fragile process, justice seems elusive, and reform has a long way to go. Virginia quarterly review, 90(2), 44-89.
Mujeri, M. K., & Mujeri, N. (2020). Bangladesh at Fifty: Moving beyond Development Traps: Springer.
Nicola, M., Alsafi, Z., Sohrabi, C., et al. (2020). The socio-economic implications of the coronavirus pandemic (COVID-19): A review. International journal of surgery, 78, 185-193.
Rahman, K. M., & Chowdhury, E. H. J. (2020). Growth Trajectory and Developmental Impact of Ready-Made Garments Industry in Bangladesh. Bangladesh's Economic and Social Progress, 267-297.
Rahman, M., Habibullah, M., & Masum, M. J. I. J. o. E. (2017). Readymade garment industry in Bangladesh: Growth, contribution and challenges. IOSR Journal of Economics and Finance.
Rahman, N., & Anwar, J. J. (2007). The sustainability of RMG as a globally competitive industry: Porter diamond perspective. Journal of Business Studies, 28(2).
Raihan, A. (2002). Contribution of the RMG Sector to the Bangladesh Economy: Retrieved from Centre for Policy Dialogue: https://www. researchgate. net ….
Rock, M. J. (2001). Globalisation and Bangladesh: The case of export‐oriented garment manufacture. South Asia: Journal of South Asian Studies, 24(1), 201-225.
Sádaba, T., SanMiguel, P., & Gargoles, P. (2019). Communication crisis in fashion: from the rana plaza tragedy to the bravo tekstil factory crisis. Paper presented at the International Conference on Fashion communication: between tradition and future digital developments.
Sikder, M. A. R. J. (2019). A review of Textile industry in Bangladesh. Int. J Adv. Multidiscip. Res, 6(3), 9-14.
Van Schendel, W. (2020). A history of Bangladesh: Cambridge University Press.
WTO, W. T. O. (2014). Bangladesh news archive.
Yunus, M., & Yamagata, T. J. (2012). The garment industry in Bangladesh. Dynamics of the Garment Industry in Low-Income Countries: Experience of Asia and Africa . Chousakenkyu Houkokusho, IDE-JETRO, 6, 29.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2022 University Malaysia Pahang Publishing
This work is licensed under a Creative Commons Attribution 4.0 International License.
