Not anti-India 'rhetoric', but a call for national capability

The Bangladesh Textile Mills Association (BTMA) has raised concerns over the rapid closure of more than 50 yarn factories within a year, leading to the loss of 150,000 to 200,000 jobs. This alarming trend has prompted industry leaders to call for immediate action to bolster national capabilities rather than engaging in anti-India rhetoric as a scapegoat for internal challenges. The textile sector, a cornerstone of Bangladesh's economy, faces significant pressures from rising production costs and global market shifts. Industry experts emphasize the need for strategic investments in technology and infrastructure to enhance the sector's competitiveness. The closures highlight the urgency of diversifying supply chains and improving energy efficiency to reduce operational costs. By focusing on these areas, Bangladesh can strengthen its textile industry, ensuring long-term sustainability and resilience amidst fluctuating global demands. Government officials are urged to collaborate with industry stakeholders to develop policies that support innovation and workforce upskilling. Such measures could not only rejuvenate the struggling sector but also empower Bangladesh to maintain its position as a leading textile exporter. As the country navigates these economic challenges, fostering national capability becomes crucial in securing a prosperous future for its textile industry and workforce.

— Authored by Next24 Live