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Related Keywords: boost investment, boost job creation, clear Rs 170-crore special package, comprises small and medium enterprises, employment intensive sector, Finance Ministry, knitwear sector, lift sagging exports, Textile Ministry

The textile ministry is expecting the finance ministry to clear Rs 170-crore special package for the knitwear sector at the earliest as it is an employment intensive sector so any effort to boost investment will boost job creation and lift sagging exports.

The knitwear industry, which mainly comprises small and medium enterprises, was left out in the earlier scheme of things. Exporters believe that the package can ease the pain especially after the goods and services tax rollout.

Related Keywords: Bangladesh garment manufacturers, BGMEA, China and the Latin American countries, Chittagong port and airports, demand for efficient functioning, exporters, growth of apparel exports, import garment items, India, knitwear sector, stable power tariff, target emerging exports destinations, worth billions of dollars every year

Bangladesh garment manufacturers and exporters to target emerging exports destinations like India, China and the Latin American countries as they import garment items worth billions of dollars every year. For the continued growth of apparel exports, they have demanded that the government ensure efficient functioning of the Chittagong port and airports and a stable power tariff.

Tapan Chowdhury, president of the Bangladesh Textile Mills Association said that they want price predictability of electricity and gas so that they can plan for long periods in their business.

Related Keywords: design studio, finance minister Arun Jaitley, incubation centre, infrastructure facilities, knitwear exports, knitwear sector, pre-budget memorandum, Research and Development Centre, Silk Board or Coir Board, skilled labour, TEA, Technical textile, textile business, textile clusters, Tirupur Exporters Association

Tirupur Exporters' Association (TEA) In its pre-budget memorandum submitted to the Finance Minister Arun Jaitley, has urged the Centre to provide adequate infrastructure facilities such as world class design studio, Research and Development Centre and incubation centre for technical textile that will empower successful textile clusters.

These infrastructure facilities will facilitate rapid growth of not only the existing textile business, but also enable its foray into the niche segments creating quantum growth opportunities to the industry

Related Keywords: bilateral relations, BKMEA, China granted funds set up exhibition center, Chinese commerce minister Gao Hucheng, expressed interest to invest, hope among Bangladeshi businessmen, in textile sector, knitwear sector, signed MoU, visit to Bangladesh

Chinese commerce minister Gao Hucheng’s recent visit to Bangladesh has buoyed hopes among Bangladeshi businessmen and international relations experts that bilateral relations will be strengthened over the next few months. During the commerce minister’s visit, China granted Bangladesh nearly US$ 100 million to set up an exhibition center and also expressed interest to invest $ 300 million in the South Asian country’s textile sector.

Related Keywords: Bangladesh readymade garment, BGMEA, BTMA, China concentrating on high value garment, depend on REB, government help to achieve, knitwear sector, set goal to reach, USD fifty billion exports, value addition in the RMG

The burgeoning Bangladesh readymade garment and knitwear sector has set a goal to reach $50 billion export by 2021. While this appears quite a daunting task, but industry sources claim it is doable provided the government and its concerned ministries make determined efforts to help achieve it as textile manufacturing sector and readymade garment industry (also the knitwear segment) are in fact inseparable and rolled into one.

Related Keywords: Garment exporter, knitwear sector, yarn price

The increase in yarn prices has come as a blow for the knitwear sector and garment exporters, as it will be difficult for same to reach the target set. They have urged the Union Textile Minister K Sambasiva Rao to intervene in reduction of yarn prices raised by spinning mills.

Tirupur Exporters' Association (TEA) President A Shakthivel in a letter to Union Textile Minister K Sambasiva Rao said that despite appeals from the mills associations, spinning mills refused to concede their requests and justified the increase in yarn prices.

Related Keywords: gas supply, knitwear sector, PHMA, SNGPL

SNGPL has single out the knitwear garment sector by repudiating gas supply defying going along with the decision taken by the federal government to provide gas to textile processing units.