Rmg Prospect in Bangladesh

Topics: Economy of Bangladesh, Clothing, Manufacturing Pages: 11 (3268 words) Published: December 28, 2012

Acknowledgement At first we desire to express our deepest sense of gratitude of almighty Allah. With profound regard we gratefully acknowledge our respected course teacher Ms Sharmin Akter for his generous help and day to day suggestion during preparation of the report. She is so much an inspiration and guidance to us that we are, short of words in expression our gratitude. We like to give thanks especially to our friends and many individuals, for their enthusiastic encouragements and helps during the preparation of this report us by sharing ideas regarding this subject and for their assistance in typing and proof reading this manuscript. And finally, we thank to all of our group members as they all were serious and prolific towards making this assignment. Once more time to Madam, we owe more than we can mention……mostly for teaching us to see the silver lining in every hard work



The ready-made garment (RMG) industry of Bangladesh started in the late 1970s and became a prominent player in the economy within a short Period of time. The industry has contributed toexport earnings, foreign exchange earnings, employment creation, poverty alleviation and the empowerment of women. The export-quota system and the availability of cheap labor are the two main reasons behind the success of the industry. Shirts, T-shirts, trousers, sweaters and jackets are the main products manufactured and exported by the industry. Bangladesh exports its RMG products mainly to the United States of America and the European Union. The Readymade Garments (RMG) sector plays a pivotal role in the economy of Bangladesh. This sector accounts for approximately 76% of the total export earnings and nearly 10% of GDP.

2. Introduction

Like other 3rd world countries Bangladesh is a developing country. Her economic development depends firstly on Agriculture and secondly on Industry. Although Bangladesh is not developed in industry, it has been enriched in Garment industries in the recent past years. For Bangladesh, the readymade garment export industry has been the proverbial goose that lays the golden eggs for over fifteen years now. Traditionally, the jute industry dominated the industrial sector of the country until the 1970s. Since the early 1980s, the RMG industry has emerged as an important player in the economy of the country. In the field of Industrialization garment industry is a promising step.

It is making significant contribution in the field of our export income and in the economical development of our country. At present the government of our country earns billions of dollars by exporting ready-made garments products to other countries. We have not achieved this success over night; we have some elements that help us to achieve this success. At present we are competing with our neighboring country; India and China. Though we are earning handsome amount of profit each year from this sector, the ready-made garment sector is suffering with a lot of problems. We should solve these negative situations by ensuring proper steps.

3 Objective
Followings were the objectives of the study.

* Broad objective: To gather knowledge about the overall scenario of Ready-Made Garments (RMG) Sector in Bangladesh.

* Specific objectives: To attain the broad objective following specific objectives were pursued.

* To know briefly about economic significant of RMG.

* To identify what factors are affecting an entrepreneur

* To identify the performance of an entrepreneur

4. Scope
This report is on a wide exporting sector of Bangladesh. So, mainly we have tried to focus on the following factors: * Current scenario of ready-made garment industry.
* Reasons for a healthy growth
* Reasons for having comparative advantages in the world market. * Economical and financial...
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