All the above points are discussed in the below: Cost Effective Strategy includes the following two key points: Cost Reduction Strategy and Those key points are discussed in the below:
The attractive opportunity of employment has changed the traditional patriarchal hegemony of the fathers, brothers and husbands. The number of early marriage is decreasing; so is the birth rate; and the working girls tend to send their little brothers and sisters to school, as a result, the literacy rate is increasing.
They can participate in family decision-making. Most importantly, the growth of RMG sector produced a group of entrepreneurs who have created a strong private sector.
Of these entrepreneurs, a sizeable number is female. As we know RMG sector is a rising sector and growing broad rapidly, it is spreading from urban place to rural portion throughout the country. As a result remotest part of the country will get touch of development, female population of the villages will develop the self confidence by becoming income generating member of the family.
Naturally early marriage and curse of population growth will halt. RMG is the source of earning foreign exchange and also the tool for socio-economic growth of the country. Thus it gives two way benefits to the nation. Beside these socio-economical impacts, RMG plays important role in Bangladesh economy in many ways.
With the growth of RMG industry, linkage industries supplying fabrics, yarns, accessories, packaging materials, etc. In addition, demand for services like transportation, banking, shipping and insurance has increased. All these have created additional employment.
The RMG industry is highly dependent on imported raw materials and accessories because Bangladesh does not have enough capacity to produce export quality fabrics and accessories. During its early years, the buyers supplied all the fabrics and accessories or recommended the sources of supply from which Bangladeshi sub-contractors were required to import the fabrics.
However, situation has improved. At present, there are many large firms, which do their own sourcing. And we still have the shortage of raw materials. According to this sense there have a lot of scope of development of various industries like linkage industries in Bangladesh.
By this way we can produce raw materials by using our own manpower with low cost, and can export more the RMG to the other countries for earning more foreign currencies.
All the above points prove that RMG is the most suitable industrial venture for Bangladesh. A number of RMG factories in different part of the country will enlighten the whole country.Bangladesh’s RMG export earning stood at billion US dollars in FY In this sector contributed % of the total Bangladesh export of billion dollars in the same year.
RMG export in FY was equivalent to % of Bangladesh’s GDP over the corresponding year.
RMG sector of Bangladesh has some key factors which inspired for steady growth of this sector. Though its a matter of great surprising for so many that how RMG sector of Bangladesh continues to show its robust performance in the world. Impacts of Rmg Sector in Bangladesh National Economy Essay Sample.
Categories. Export Earnings and Local Currency Retention and Foreign Exchange Net incomes by the Sector The Bangladesh RMG industry. with its woven and knit sub-components. is a pre-dominantly export oriented sector. with 95 per centum of the woven and 90 per centum of the.
RMGs are the finished textile product from clothing factories and the Bangladeshi RMG sector is one of the fastest growing sectors in the Bangladeshi economy, with a growth rate of 55% from to Exports of textiles, clothing, and ready-made garments (RMG) accounted for 77% of Bangladesh's total merchandise exports in By the (RMG) industry was the only multibillion-dollar.
Impact of RMG Sector on Livelihood Change of Women Employees of Bangladesh Afsana Mustafa 1, M. Serajul Islam 1,, Saiful Islam 1, Mahfuja Khatun 1 1 Bangladesh Livestock Research Institute, Bangladesh Agricultural University, Mymensingh, Savar, Dhaka.
World Journal of Social Sciences Vol. 6. No. 1. March Issue. Pp. 20 – 31 Impact of GSP Cut: The Case of RMG Sector in Bangladesh Ashiq Mahmud Bin Gholam Kibria1, Sabrina Matin2 and Rehana Sharmin3 The GSP program was first introduced in the Trade Act