Sale of textile and garment machinery, now worth more than $4 bn in Bangladesh, is growing by 20 percent annually. The country has now turned a key hotspot for such machinery due to high demand by entrepreneurs to raise productivity and accept apparel orders shifting from other countries, the 17th Dhaka International Textile & Garment Machinery Exhibition 2023 was told recently.
Representatives of several European garment-textile machinery companies with operations in Bangladesh were optimistic about the market potential of the country, though they felt the current demand for apparel is a bit low due to the Russia-Ukraine war.
Even during the pandemic, many entrepreneurs in Bangladesh had booked machinery online, it was revealed.
The demand for machinery that uses man-made fibres (MMF) is growing in the country as entrepreneurs are investing a lot in the MMF textile industry to grab a bigger share of the global market, according to a report.
