By Geetha Varadarajan Apr 28, Textile industries play a very important role in the development of the Indian economy with respect to GDP, Export promotion, employment, etc.
Impact of Readymade Garments on the Economy of Bangladesh Impact of Readymade Garments on the Economy of Bangladesh 9 September Economy But thisis not the end of their suffering — they faceabuse in the workplace, sexual harass-ment and rape, and even death.
Death Trap On 23 February a? Specialarrangements were made on that day foran emergency night shift; food wasarranged for about a thousand workers. But how many of the workers could escapethe deadly? Nobody knows for sure,even today.
I personally visited the factory three days after; yet I met many who werelooking for their daughters, sisters or rela-tives who were working in hat factory. Even after three days nobody was allowedto enter the factory.
Hundreds of small bags usually carried by female workers were here andthere. I found those totally empty. No one was allowed to enterafter the? The workers didnot have much money to be looted.
Theonly thing they had — very important tothem — was their ID ard, which was theonly proof of their identity and their link with the factory. That was the main proof to identify and count the dead and injured,and to make a claim for compensation. The owners had every reason to takethose cards away.
Possible claims for com-pensation also explain the unwillingnessof many employers to give appointmentletters to the workers. Since the early s, more than athousand people, mostly teenage girls,lost their lives in different garment facto-ries because of either?
Some factories reported-ly kept their gates closedduring? On6 Januaryduringa? The incident claimed 23 lives.
The collapse of a nine-story garmentfactory building at Savar near Dhaka on11 April caused more than workerdeaths and another workers missing.
Suddenly turned into a mass grave, thefactory had been producing nearly 80,items of clothes annually for the marketsof Europe and the US This building wasconstructed without proper authorisation.
Three more factory accidentsoccurred in earlytwo in Dhaka andone in Chittagong, leaving at least workers killed and more than injuredmany of them disabled for life.The analysis reveals this improvement to be predominantly the result of competitive advantages of ready made garment industry.
Bangladesh is able to export s readymade garment of high and consistent quality at low costs, under conditions which meet the world standards set by the world.
Readymade garments are the largest export industry and determine the dynamics of total export earnings for Bangladesh RMG is still growing at a satisfactory rate.
There is no strong indication of any negative impacts of the global economic crisis on RMG as of today, but the future continues to be unpredictable. The readymade garments (RMG) industry contributes to the Bangladesh economy in a distinctive manner.
The last 20 years witnessed remarkable growth in this sector, which is also the largest exporting industry in Bangladesh. A Report on Readymade Garment Industries of Bangladesh Mansur Ahamed (Ph. D) Research department, JBBC Corporation. The overall impact of the readymade garment exports is certainly one of the most significant social and economic developments in contemporary Bangladesh.
With over two million women workers employed in. According to the proposed tax rates, GST rate on readymade garments and apparel will be 5 percent up to ₹1,, beyond which they will be taxed at 12 percent.
The same rates will also hold true for other readymade apparel such as s alwar kurtas, dresses, skirts, tops, and jeans. Further, synthetic and other manmade fibers will attract a higher tax of 18 per cent while other natural fibers (except silk and jute) . As of Bangladesh was second largest ready-made garments (RMG) manufacturer after China, by the next five years Bangladesh will become the largest ready-made garments manufacturer.
Bangladesh was the sixth largest exporter of apparel in the world after China, the EU, Hong Kong, Turkey and India in .