Bangladesh textile millers have imported machinery worth TK71.19 billion in the fiscal year of 2014-15, a short up by over 40 percent compared to Tk50.63 billion in the last fiscal year of 2013-14 as many millers went for business expansion, said Bangladesh Textile Mills Association (BTMA) president Tapan Chowdhury speaking a press conference on Tuesday. The rise in machinery imports is attributed to the prevailing political stability.
He further added that the capital machinery imports by textile millers were Tk 49.83 billion, Tk 49.12 billion and Tk 46 billion in 2012-13, 2011-12 and 2010-11 respectively. The investment will further increase if the stability is maintained.
The press conference was organized to announce a four-day Dhaka Textile and Garment Machinery international fair of leading brands in textiles and garment technology, machinery and parts that will begin at Bangabandhu International Conference Centre on Thursday.
The BTMA, Taiwan's Chan Chao International Company Ltd and Yorkers Trade and Marketing Service Company of Hong Kong will jointly organize the fair.
Captive power generated through gas is crucial for the textile sector as factories cannot run entirely depending on generators in the event of power outage, the BTMA president said, adding that an uninterrupted power supply is a must.
Terming the present energy situation 'challenging,' he said that the entrepreneurs are investing and also growing, but they are struggling most. It is next to impossible for a new entrepreneur to invest in such a situation.
Already many factories in Narayanganj and Savar are facing low gas pressure, he hopes that the government would be able to keep its promise and solve the energy crisis within its promised two years.
According to the association, more than 1,300 spinning, weaving, dyeing, printing and finishing mills in the country have invested $4.0 billion and the
sector's contribution to the gross domestic product amounts to 13 percent.
This sector has established a strong backward-linkage industry for the country's garment sector. As a result, the garment sector has been able to keep up its growth momentum and remain sustainable.
The BTMA President said that the fair, largest of its kind in the country, will offer an ideal platform for local exporters to interact with manufacturers, regional agents and wholesalers and source high-quality machinery, equipment and materials.
Participants from Australia, Austria, Bangladesh, Belgium, Brazil, China, Czech Republic, Hong Kong, Indonesia, Ireland, Italy, Japan, Malaysia, the Netherlands, Poland, Romania, Portugal, Spain, Sweden, Switzerland, Taiwan, Thailand, Turkey, the UK, the UAE, the USA, France, Germany, South Korea, India, Pakistan and Vietnam will attend the fair .
Over 1,000 machinery makers from 33 countries, including host Bangladesh will display a wide variety of state-of-the-art textile and garment technology, machinery and parts.
Judy Wang, executive director of Chan Chao International Company, said that the exhibitors, through 1,160 booths, will showcase the latest machines and technology to textile and industry people, including spinners, weavers and knitters.
Global brands, such as Barudan, CTMTC, Fong's, Groz-Beckert, Jakob Muller, Karl Mayer, Loepfe Graf, Lonati, Oerlikon, Pai Lung, Picanol, Rieter, Santoni, LMW, Shima Seiki, Tajima, Terrot, Thies, Truetzschler and Zimmer will display and sell their products.
Last year, at the Dhaka Int'l Textile & Garment Machinery fair exhibitors sold machinery worth $220 million.
A weekly report covering market and price information on the entire chain of polyester along with online access to daily polyester chain prices.
One-time reports that are issued annually cover the demand and supply trends in individual products including polyester, nylon, acrylic, viscose, and cotton.
One-time reports that are issued annually cover the demand and supply trends in the individual country's natural and manmade fiber/filament industries.
Countries Served Worldwide