Sewtech Fashion of India signed an agreement with Bangladesh Export Processing Zones Authority (Bepza) to invest $9.26 million to establish a readymade garments manufacturing factory in Chattogram Export Processing Zone.
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Sewtech Fashion of India signed an agreement with Bangladesh Export Processing Zones Authority (Bepza) to invest $9.26 million to establish a readymade garments manufacturing factory in Chattogram Export Processing Zone.
Sewtech Fashion of India signed an agreement with Bangladesh Export Processing Zones Authority (Bepza) to invest $9.26 million to establish a readymade garments manufacturing factory in Chattogram Export Processing Zone.
In spite of the pandemic situation, the SM Group has shown some hope by setting up a new RMG accessories factory that will provide more jobs, boost export, and improve the country’s economy in the near future.
Going forward, the textile industry scenario will depend on how the situation evolves in the domestic and international markets and faster return to normalcy will enable the industry to curtail the damages and improve on its growth prospects.
In the budget for FY19, the Bangladesh government had set the corporate tax at 15 per cent for readymade garment (RMG) manufacturers and at 12 per cent for owners of green factories.
According to Nilesh S Shah, VP of the Solapur Readymade Garment Manufacturing Association (SRGMA), ?Solapur?s closely-knit and largely unorganised garments and uniforms industry is attracting attention of the armed forces.?