The Bangladesh parliament recently passed the Textile Bill that was introduced in June 2018 by State Minister for jute and textiles Mirza Azam. The government wants to achieve higher numbers by streamlining multiple processes for market leaders in the textile industry as the country’s apparel sector grew from $28.2 bn in 2016 to $29.33 bn in 2017.
Bangladesh total exports earned $36.67 bn for fiscal 2017-18. The textile industry contributes approximately three-fourths of the country’s total exports with the readymade garment (RMG) sector as the major contributor, according to a report. The bill has a lot of amendments to earlier laws, including a one-stop service provision for companies that want to set up industries. This may raise investment in the RMG sector.