Related Keywords: 7 lakh cotton bales, Bangladesh cotton industry, cotton demand, cotton farming project, Extended Cotton Farming Project, Tk 105 crore project
At present Bangladesh produces only 1 lakh bales of cotton, which meets only 2-3 percent of the garment industry's demand. To meet the growing demand of the garment industry, currently the government has to spend around $4.5 billion a year to import cotton.
The Bangladeshi government has taken up a Tk 105 crore project to increase raw cotton production, as only 3 percent of which is now collected from local producers.
