Textile makers in Bangladesh's are urging the government to extend policy support to increase local capacity in man-made fibers. Spinners want more joint-ventures between local and technologically advanced foreign companies for developing high-value yarns. As per BTMA, local spinning mills meet 80 per cent demand for export-oriented knitted fabrics, while they account for only 40 per cent woven fabric supplies. In 2020, spinners imported nearly Tk2.30 lakh tons of knitted fabrics and over 4.21 tons of woven fabrics

Mohammad Ali Khokon, President, BTMA, has urged the government to offer incentives to encourage investments in this sector. Shahidullah Azim, Vice President, also emphasizes on the significance of joint-venture investments to develop a strong backward industry for non-cotton fabrics. Fazlee Shamim Ehsan, COO, Fatullah Apparels, wants policy support for both backward and forward industries to draw in new investments.

Bangladesh has an opportunity to invest in the woven sector, especially in synthetic yarns, says Mohammad Enamul Karim, Executive Director (Spinning), Noman Group, one of the largest spinning and textile manufacturers in South Asia. He urges for a focus on non-cotton fabric that will contribute to diversifying the apparel basket as well as will make it more competitive in the global market. He says, if the government incentivizes non-cotton apparel exporters, its market share will be higher within a year. Khokon believes a 10 per cent cash incentive on new non-cotton products can help manufacturers export an additional $2 billion in apparel a year.

According to the Export Promotion Bureau (EPB), in FY21, Bangladesh exported $32.59 billion worth of apparel products and home textile items, which was 84 per cent of the total export.