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The ready-made garments (RMG) sector has a greater potential than any other sector in terms of employment and foreign exchange earnings to reduce poverty and make a contribution to the national economy. Along with its potentiality the... more
The ready-made garments (RMG) sector has a greater potential than any other sector in terms of employment and foreign exchange earnings to reduce poverty and make a contribution to the national economy. Along with its potentiality the sector is also experiencing new challenges which can be the future determinants of its sustainability. The present study has made on descriptive research, is conducted to identify different dimension of challenges in readymade garment industry in Bangladesh and a feasible solution to cope up the challenges. To accomplish result research technique has relied based on information from secondary sources. From the inception of RMG in 1978 Bangladesh has seen a tremendous growth of the number of factories in consistent with the amount of export. In year 1983-84 there were only 134 RMG units where only 40000 workers were working in this sector but in 2013-2014 the number of RMG units increases around 6000 with the employment of around 4.2 million workers among them almost 80% are female. This sector also faces a lot of challenges like unskilled workers, improper infrastructure, electricity crisis, gas shortage, insufficient bank loan associated with high rate of interest, high tax rate, intricate social compliance, political crisis, market and product diversification, lack of new investment, poor backward and forward linkage etc. In order to overcome these challenges, we need to take number collaborative and coordinated steps to be taken from both owners and major stakeholders to reach the ultimate goal of achieving the top position in the world apparel market.