The work in which Bangladesh used to compete with China, that too got drowned in Yunus government, the future depends on these 2 things

The business of Bangladesh which was earning fame all over the world has now collapsed. The business which was giving tough competition to the world's second largest economy China under the Sheikh Hasina government is now surrounded by crisis from all sides. But at present, the Yunus government does not seem to be taking any concrete steps to deal with this challenge. From the big decisions taken by the interim government so far, it seems that it is more concerned about its political future.

The decisions of Mohammad Yunus' government seem to be more pleasing to the fundamentalists and Islamists and less in the interest of the people and the country. This is the reason why the country's most profitable business is facing many challenges. Actually, we are talking about Bangladesh's textile industry.

Bangladesh's textile industry is in trouble.

In the last 3 decades, Bangladesh has succeeded in changing its fate and image due to this textile industry, but the current situation is such that achieving the target set for 2030 seems very difficult. Actually, Bangladesh's economy is mainly dependent on exports, to which the export of branded clothes has contributed a lot.

The previous government of Bangladesh had set a target of $100 billion in garment export by 2030. Which is now facing many challenges at both global and local levels. However, the country's textile businessmen still hope that if the right measures are taken in time, this target can be achieved.

Bangladesh used to compete with China in this matter.

China is currently number one in terms of garment exports worldwide. In the first 2 months of the year, China's textile and apparel exports saw a jump of 14.3 percent, which was $ 45.1 billion. China is leading this industry worldwide not only in terms of exports but also in production and retail. In 2023-24, China's textile exports worldwide were around $ 30 thousand crores.

Bangladesh may be far behind in terms of figures, but it ranks second after China in textile exports worldwide. In the financial year 2023-24, Bangladesh exported 36 billion dollars.

It is important to deal with global-local challenges.

However domestic problems have badly affected Bangladesh's textile industry. To achieve the 2030 target, industrialists expect policy support from the government. Along with this, the issue of a stable political environment and security of production units is also considered important for the textile industry. On the other hand, if we talk about global challenges, then the power crisis and lack of gas supply are big issues. If Mohammad Yunus's government focuses on the real issues of the country, then these challenges can be dealt with.

The future of the textile industry depends on 2 things.

The future of Bangladesh's textile industry depends mainly on two things, one is the electricity supply and the other is the gas supply. The electricity crisis that has been going on for the last 2 years is getting worse, while the gas supply is also not able to meet the current demand, due to which this profitable business of Bangladesh is now getting ruined.

Many domestic challenges remain in front of the manufacturers, such as poor business and investment environment, and disruption in production and shipment. Due to this the global trust in this industry of Bangladesh is decreasing.

However, according to Farooq Hasan, former president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), buyers are returning to Bangladesh. Therefore, the target of $100 billion in garment exports by 2030 can be achieved, but for this, it is necessary that the government fixes the electricity and gas supply.