Industry

Bangladesh Textile Sector Attracts Nil Investment In 2023

Textile Insights January 30, 2024

The Bangladesh textile industry did not witness any new investments in 2023 due to various internal and external forces, which include a severe shortage of energy and a global economic slowdown. This was informed by Bangladesh Textile Mills Association (BTMA) President Mohammad Ali Khokon at a

Industry

Bangladesh Textile Mills Urge Govt To Mandate 70% Use Of Local Yarn

Textile Insights January 4, 2024

Bangladesh textile mills have urged their government to make it mandatory for fabrics and apparel manufacturers to buy cotton yarn from domestic mills due to the ongoing foreign exchange crisis. In a letter the Bangladesh Textile Mills Association (BTMA) said that if garments are manufactured with domestic yarn, then the value addition is 65 percent, […]

Industry

Investments In Bangladesh Textile Sector Almost Dry Up In 2023

Textile Insights January 2, 2024

Investments in the Bangladesh textile industry which is worth around $25 billion, almost dried up in 2023 as nor were new textile mills set up nor did any start operations. Only a Narsingdi based spinning mill said it would invest Tk 700 crore to manufacture cotton and MMF yarn, but even that plant will be […]

Industry

Bangladesh Textile Industry Seeks Higher Limits Of LC’s

Textile Insights December 11, 2023

Textile mills in Bangladesh have urged the central bank of Bangladesh to raise the limit of letters of credit (LCs) so that they can import more raw materials. The Bangladesh Textile Mills Association (BTMA) sent a letter to Bangladesh Bank requesting for a hike in LC limit last week, in which the trade body also […]

Machinery

BTMA Seeks Refinancing For Spinning To Printing Segments

Textile Insights November 27, 2023

The Bangladeshi textile industry is seeking a refinancing facility to modernise or refurbish textile technologies in various segments like spinning, weaving, etc from the central bank of Bangladesh. Mohammad Ali Khokon, who is the President of the Bangladesh Textile Mills Association (BTMA), has urged the Bangladesh Commerce Ministry to look into the issue. “He said […]

Industry

Bangla Mills Impacted By Falsely Declared Imported Textiles

Textile Insights August 28, 2023

The Bangladesh Textile Mills Association (BTMA) has raised the issue of false declaration of imports of yarns, fabric and dress materials, which is impacting sales of locally produced textiles. In a letter addressed to the Customs Bond Commissionerate, BTMA President Mohammad Ali Khokon said, the textile industry is already reeling under challenges of foreign exchange […]

Sustainability

Boost Textile Recycling By Withdrawing Two Stage VAT – BTMA

Textile Insights August 14, 2023

The Bangladesh Textile Mills Association (BTMA) demanded the withdrawal of a two-stage value-added tax (VAT) on the purchase of textile waste from domestic market and also on production of recycled cotton yarn from the waste. BTMA urged the National Board of Revenue (NBR) to introduce a new harmonised system (HS) code for recycled cotton fibre […]