FINANCIAL SERVICES

PROJECT

GARMENT MANUFACTURING BUSINESS

PLAN

PRESENTED BY – SHREY NARULA (5044)

BCOM LLB (H)
5TH SEMESTER
AMITY LAW SCHOOL, NOIDA
AMITY UNIVERSITY, U.P
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Contents
1. Introduction 2
2. Product overview of the market 3
3. Industry analyses 4
4. Market Summery 5
Market Demographics 5
Market Needs 5
Market Trend 6
Market Growth 6
5. Competitor’s analysis 7
6. SWOT Analysis 10
Strengths 10
Weaknesses 11
Opportunities 11
Threats 11
7. Key to Success 12
8. Marketing research & Information 12
9. Marketing Strategy 13
Mission 13
Marketing Objectives 13
Target Marketing 14
Positioning 15
Marketing Mix 16
Marketing Research 16
10. Open rational Plan 17
11. Sales Promotion 17
12. Financials, Budgets, and Forecasts 18
Sales Forecasts 18
Expense Forecasts 18
13. Controls 19
Implementation Milestones 19
Marketing Organization 19
14. Conclusion 19
15. Reference 20
2
Introduction:

Marketing plan:
A marketing plan may be part of an overall business plan. Solid
marketing strategy is the foundation
Of a well-written marketing plan. While a marketing plan contains a list
of actions, a marketing plan
Without a sound strategic foundation is of little use.

Definition and example:

A marketing plan is a comprehensive blueprint which outlines an
organization's overall marketing
Efforts. A marketing process can be realized by the marketing mix,
which is outlined in step 4. The
Last step in the process is the marketing controlling.
The marketing plan can function from two points: strategy and tactics
(P. Kotler, K.L. Keller). In
Most organizations, "strategic planning" is an annual process, typically
covering just the year ahead.
Occasionally, a few organizations may look at a practical plan which
stretches three or more years
ahead.

The marketing process model:

This marketing plan is concerned with the development of strategies that
are based on the planning
Term’s measurement of the market and perceptions of managerial
expectations and organizational
capability. Various tools and terms are used for medium term planning
marketing strategy under this
process:
Figure: The strategic marketing planning process
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This report is structured to discuss the following:
Analyze the situation
Set the realistic objectives
Generate ideas and develop sensible strategies
Choose different tactics to support strategies
Implementation the strategies with action plan
Control, monitor, measure, report and adjust.

Marketing Audit / Current Situation:

Marketing audit is identified as a crucial part of a professional marketing
planning process. It is
nothing but an analysis to find out the past and present situation of an
organization. There are various
internal and external factors which influences the company’s current
situation. For this reason
marketing audit describes those factors so that we can make decision
what will be our strategy for
making effective marketing plan.

Product overview of the market:

The RMG industry is the only multi-billion-dollar manufacturing and
export industry in Bangladesh.
Whereas the industry contributed only 0.001 per cent to the country’s
total export earnings in 1976,
its share increased to about 75 per cent of those earnings in 2005.
Bangladesh exported garments
worth the equivalent of $6.9 billion in 2005, which was about 2.5 per
cent of the global total value
($276 billion) of garment exports. The country’s RMG industry grew by
more than 15 per cent per
annum on average during the last 15 years. The foreign exchange
earnings and employment
generation of the RMG sector have been increasing at double-digit rates
from year to year.
Important issues related to the Bangladesh RMG industry:
Year(s) ......................................Issue
1977-1980 ..............Early period of growth
1982-1985............. Boom days
1985 .......................Imposition of quota restrictions
1990s...................... Knitwear sector developed significantly
1993-1995 ..............Child labour issue and its solution
2003 ........................Withdrawal of Canadian quota restriction
2005 ........................Phase-out of export-quota system
Currently, there are more than 4,000 RMG firms in Bangladesh. More
than 95 per cent of those firms
are locally owned with the exception of a few foreign firms located in
export processing zones
(Gonzales, 2002). The RMG firms are located mainly in three main
cities: the capital city Dhaka, the
port city Chittagong and the industrial city Narayangonj. Bangladesh
RMG firms vary in size. Based
on Bangladesh Garment Manufacturers and Exporters Association
(BGMEA) data, (2000) found that
in 1997 more than 75 per cent of the firms employed a maximum of 400
employees each. Garment
companies in Bangladesh form formal or informal groups. The grouping
helps to share
manufacturing activities, to diversify risks; horizontal as well as vertical
coordination can be easily
found in such group activities. Ready-made garments manufactured in
Bangladesh are divided
mainly into two broad categories: woven and knit products. Shirts, T-
shirts and trousers are the main

4
woven products and undergarments, socks, stockings, T-shirts, sweaters
and other casual and soft
garments are the main knit products. Woven garment products still
dominate the garment export
earnings of the country. The share of knit garment products has been
increasing since the early
1990s; such products currently account for more than 40 per cent of the
country’s total RMG export
earnings (BGMEA website). Although various types of garments are
manufactured in the country,
only a few categories, such as shirts, T-shirts, trousers, jackets and
sweaters, constitute the major
production-share (BGMEA website; 2001). Economies of scale for
large-scale production and
export-quota holdings in the corresponding categories are the principal
reasons for such a narrow
product concentration.

Industry analysis:
The Readymade Garment (RMG) industry of Bangladesh marked the
leadership of private enterprise
and the country’s successful transition to a major export-oriented
economy. The key products of this
industry are Knit and Woven Shirts and Blouses, Trousers, Skirts,
Shorts, Jackets, Sweaters,
Sportswear and many more casual and fashion apparels. RMG industry
has enjoyed an impressive
rise from less than 50 factories in 1983 to over 3600 in2006.
Garments sector’s continual success can be attributed to the following:
Quotas under Multi-Fiber Arrangement (MFA) in the North American
market
Preferential market access to European markets
The country has a small textile industry, but the volume and quality of
its output are unable to fully
meet the demand of the garments industry. Most of Bangladesh’s
garments exports are made from
imported textiles. RMG exports have grown rapidly after extensive trade
and other economic reforms
were undertaken in the early 1990s. Exports increased by 16.5 percent
per year during the past one
and half decade. Knitwear sector has performed particularly well over
time. The sector’s share in
total RMG exports has grown from about17 percent in 1995 to almost 40
percent in 2003. In context
of Bangladesh’s total export, RMG’s contra ablution is approximately
76%. Excepting 2002, the
industry has developed rapidly with significant positive growth. Over
the years, it has experienced
around 18%growth rate.

Marketing Summary:

Marketing Demographics:
Market demographic refers some essential factors of the company such
as customer of the
companies, companies target market area's customer. Mainly those
customers who is purchasing
Garments Company Bangladesh and it using. Organization should
cautions about their customer that
how they can sale their product to the customer. Garments Bangladesh
has product many different
kind of product for creating superior customer value to accomplishment
of organizational goal.
Buyer of the product is fully satisfied to use it. It’s hardly belief that
within short time they will make
themselves as a market leader all over the country and should try to
expose their business in globally.

5
Geographic's:
The immediate geographic target is the foreign market in the world..
 The total targeted population is just 7 countries buyer 1200 business
customer.

Demographics:
Male: female- 850%; 15%. The reason for this discrepancy in the male
to female ratio is generally
explained by the fact that mane typically active for their own
responsibility and have leading
capability of any organization because they are more much adequate
than female. 42% of the target
customer is come by the intermediate or media. 73% of the target
population has graduation degree.

Behavior Factors:

• Individual and business interest is personified by the type and

condition of the product.

Market Need:
Garments are providing the market with a premium of electrical product
service for the East Meadow
community. Garments seek to fulfill the following benefits that are
important to the customers.

• Exemplary customer’s services: The target customers have money

and are used to having
excellent customer’s services. They will not regularly use Garments
product unless they receive
excellent service.

• High Quality Products: The target value of higher quality services for
their upper end product.

• Convenience: The hours of operation as well as the time needed to

provide the service must be
convenient and respectively, to gain market share.

Market Trends:
This was used to find out the extent of growth in the number of firms
and the volume of exports of
the woven industries in the post MFA era. The trend was created using
the data of the woven growth
of the first quarter of the year 2005.

Market Growth:
Bangladesh has been able to reach its current position due to several
factors. The government has
provided fiscal and financial support such as duty drawback facilities,
tax holidays, cash assistance,
income tax rebate facilities, zero tariff on machinery input, rebate on
freight and power rate, bonded
warehouse facilities, provision of import under back-to-back L/C, credit
at concession rate, export

6
credit guarantee scheme, and retention of foreign exchange earned by
the exporters, all of which
facilitated the growth of this sector. But the major factors behind this
explosive growth have been
both General System of Preferences (GSP) and Multi-Fiber Agreement
(MFA), which allowed
Bangladesh to export to EU and the USA, respectively. These two
market accounts for more than
94% of total garments exports from Bangladesh and the export volume
to other markets are
negligible.

Competitor’s analysis:
American Apparel does business in an exceptionally competitive
landscape. AA has many
competitors; however, a few of their main competitors are H&M,
Arcada, Inditex, Benetton and Gap.
These companies not only offer similar products to American Apparel,
but also target a very similar
demographic. Their products are intended to appeal to young,
“metropolitan” adults between the
ages of 20-30. These consumers are mostly nearing the end of their
education and moving on to
careers in the workforce. They mostly do not have access to a large
disposable income, therefore
clothing cannot be so expensive that it will be unable to be purchased
regularly. However, because of
their age, they still want high quality products. Because of these
seemingly contradictory
considerations, companies like American Apparel and its competitors
have an increasingly difficult
time straddling the line between those two. The companies that can pull
this balancing act off will be
successful, and the ones who cannot will be left in the dust.
0
500
1000
1500
2000
2500
3000
3500
4000
94-95 95-96 96-97 97-98 98-99 99-00 00-01 2001-20022002-20032003-
2004
Amount in Millions US$
Year
Growth of Apparel Sector
Woven
Knitwear
7
H&M. Hennes & Mauritz AB, also known as H&M, is an apparel and
accessory store
founded in 1947 in Sweden known for offering the latest fashion trends.
H&M specializes in taking
advantage of the season’s latest looks inspired by design houses around
the world and providing
women, men, and children contemporary clothing styles at low prices.
Targeting the 18- to 34-yearold
market, the company manufactures affordable, stylish clothing. H&M
operates nearly 2,000
stores in 38 countries and has a sizeable geographic market presence and
overall brand recognition.
In March 2009 H&M opened its first store in Russia, Moscow and now
operates 15 stores in 5 cities.

Benetton: Benetton, incorporated in 1965 in Italy, empathized brightly

colored knitwear. It
achieved prominence in the 1980s and 1990s for its controversial
advertising an as a network
organization that outsourced activities that were labor-intensive or scale
insensitive to
subcontractors. But Benetton actually invested relatively heavily in
controlling other production
activities. Where it was investment-light was down stream: it sold its
production through licensees,
often entrepreneurs with no more than $100,000 to invest in a small
outlet that could sell only
Benetton products. While Benetton was fast at certain activities such as
dyeing, it looked for its
retailing business to provide significant forward order books for its
manufacturing business and was
therefore geared to operate on lead times of several months. The
company was successful in Britain,
however, having a long standing in the market, they witnessed failure to
keep up pace with the
accelerated high fashion pressure by the other European competitors,
which are now the known as
Gap, H&M and Zara. Te rise of these competitors on high street has
been witness successful because
of a higher demand for fast fashion. Styles showed in magazines and
other advertorials are what

8
people wish to wear. Top designers have created collection extensions,
which cater people who can
afford to spend their hard earned cash on triple figure. This resulted
success to the affordable
collection of European fashion brands. In 1987 Benetton opened its first
store in Russia, Moscow
which were operated though partnership with Russian company “Green
Rock”. Now Benetton
operates 70 stores in more than 30 cities.

Inditex: AA’s third competitor is Industria de Diseño Textil (Inditex), a

Spanish company
specializing in disposable chic fashions that are here today and gone
tomorrow. Inditex sells on a
global scale, with some 4,430 shops in 70-plus countries, under eight
different banners: Zara,
Oysho, Massimo Dutti, Pull and Bear, Bershka, Stradivarius, Zara
Home, and Uterqüe. Located
mostly in Europe, the firm’s stores answer to popular trends by telling
designers in Spain what
customers are asking for locally. Zara is AA’s most relevant competitor.
The corporation entered
Russia as early as 2003, when first Zara was opened in Moscow. In the
beginning of 2012 the
amount of all Inditex’s stores is more than 250 in 14 big Russian cities.
Gap. AA’s fourth competitor is Gap, Inc. Gap is known for providing
jeans, khakis, and Tshirts.
The firm, which operates about 3,150 stores worldwide, built its iconic
casual brand on basics

9
for men, women, and children, but over the years has expanded through
the urban chic chain
Banana Republic and ailing budgeter Old Navy. Other brand extensions
include GapBody, GapKids,
and babyGap; each also has its own online incarnation. All Gap clothing
is private-label
merchandise made exclusively for the company. From the design board
to store displays, Gap
controls all aspects of its trademark casual look. In Russia First Gap
store was opened in December
2008. Nowadays, the company operates 9 shops in Saint-Petersburg and
Moscow.

Positioning map
Also we have to consider a market positioning map from another
perspective: product quality and
price as long as one of the AA's main advantages is exceptional quality.

10
SWOT analysis:
SWOT analysis is indicating the combination of Market strength,
Weakness of the company and
opportunity, threats of the competitors in the competitive market of the
world.

Strengths:
The things that you are already good at. These are the areas you
should capitalize on and
develop. Environment friendly products.
Special features of products.
Modern technology.
Good experience & good learning curve.
Satisfactory debt management.
Effective management.
Global reputation
This organization maintaining attractive market share.
Capability to procure long-term finance in spite of declining
Profitability.
Adequate organizational structure.
Availability scope of management.

Weakness:
Areas where you lack expertise or experience. A garment has some lack
that for the company is not a
market leader but this company is trying to consist their self as a market
leader. Some mentioned
weakness of garments. Bangladesh is disclosing below:
Ineffective operation system.
Employees’ wages is not sufficient.
Uncertainty of credit worthiness.
Data presentation to foreign buyers is not effective.
Frequency of advertisement of garments is lesser than its competitors.
Foreign market access is not very effective.
Management expertise is not so satisfactory.

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Opportunities:
An opportunities major purpose of environmental scanning is to discern
new marketing
opportunities. A marketing opportunity is an area of buyer need or
potential interest in which a
company can perfume profitability. Opportunity can take many forms
and marketers have to be good
at spotting them.
Now we are discussing the environment of garments in Bangladesh
which includes opportunities and
threats called external environment. The company's opportunities are
given bellow:
Bangladesh group has positive corporate image.
Good security protocols for the business.
Able to create customer satisfaction by its product.
Economic of scale in investment.
A hues potential customer’s base.
Effective employee’s skill.
Adequate operational system.
New environment friendly products through research & development.

Threats:
Some developments in the external environment represent threats. An
environmental threat is a
challenge posed by an unfavorable trend or development that would
lead, in the absence of defensive
marketing action, to deterioration in sales or profit. Threats are that
many strong competitor
existences in the market. They have been trying to establish their own
interest very rapidly. But this
company mentally prepare for protecting any unethical activities done
by the competitors.

Now we are showing some essential threats of the companies-

Lack of qualified product availability
Strong competition
Changing Customer's desire
Emerging fresh agency/distribution
Diverse cultural activities
Different social environment
Turmoil political situation of the current world.
All above the factors should help the marketer to understand the market
opportunity and for making
a proper decision to achieve the organizational goal. Many competitors
existing in the market those

12
organizations are trying to operate their business absolutely for covering
the target area and for
establishing their business all over the country.

Key Success Factors for Vendors:

For Vendors:
The garment export trade starts with the buyer placing an order with the
seller (vendor). Therefore it
must be noted that if the vendor is unable to secure orders from buyers,
he is out of business. In order
for the vendor to be successful in securing orders continuously he must
consistently make delivery in
the right quality, at the right time and at the right price. To maintain
these attributes and standards
(Price, Quality and Delivery) the vendors will be required to consistently
upgrade their production
facilities, increase productivity and have a strong management team.

Therefore in identifying a quality vendor one must look for the

following:
1. Experienced: who has been in business for a considerably long time
(15yrs for group),

2. Reputed: who has long-term buyer relationship, and has secured

business consistently from
reputed buyers,

3. Successful: buyers are willing to place continuous orders.

4. Good Management with Farsightedness: experienced and
committed management focused
towards consistent upgrading and improving production facilities,

5. Financial Strength of the Group: who may sustain in the cut-throat

price war situation,

6. Buyer Diversification: who has diversified based on buyer as well as

destination,

7. Adherence to International Labor Standards: with buyers

becoming more and more
demanding about the quality of life being given to garments workers,
manufacturers have to
ensure that they adhere to stringent labor laws, factory construction
standards etc. Most of the
large buyers have their own inspection team and standards certification
process before they
procure from sellers.

Marketing research & Information:

The garment & textile industry presently contributes more than 20% of
industrial output. Textile
industry is increasing at very fast rate. The Asian textile industry is very
vast. We carry out textile
industry research program from the processing of raw materials to
selling of finished products in
domestic as well as international markets.

13
Marketing Strategy:
Marketing strategy is an essential process for gaining competitive
advantage, requiring the active
participation of all major business function in the organization.
Marketing strategy is an ongoing
process of making decision, implementing them and measuring their
effectiveness overtime.
Marketing strategy consist of the analysis data, strategy development
and implementation actives in
various side. Developing is a vision about the market of interest to the
organization, selecting market
target strategies, setting objectives, developing, implementing and
managing the marketing program
positioning strategies designed to meet the value requirements of the
customers in each market
target. The marketing strategy will be to develop brand equity, increase
customer awareness of
garments and build the customer base. The strategy will use several
different methods to achieve
these goals. The marketing Strategy of garments is to improve Customer
Service, reduce cost and
improve productivity.

Missions
The mission of garments is to provide top-quality Garments product and
detail service for luxury
Garments product in the world, the garments will work to keep
employees satisfied in order to
maintain impeccable customer service.
The garments will become the acknowledge leader in Garments industry
to provide quality products
into reachable price. Leadership will be achieved by establishing the
industry standards of excellence
for quality of service and by maintaining the board loyalty relative to our
service commitment.

Marketing Objective:
Increasing repeat customers by providing various promotion to the
customer.
Steadily increase market share every year.
 Develop brand awareness and acceptable, qualified by a decrease in
customer acquisition
costs.
To create and continuous upgrading the loyalty of the clients and their
recommendation of
our people through: quality products and good advice, dependable
service and delivery and
efficient marketing effort.
To establish a strong and distinguished corporate portfolio and image
by retaining the
tradition of the world's greatest product line up.
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To continuous upgrading, monitoring and evaluating of total quality
management (TQM)
approach to all marketing and distribution system by making dynamic,
honest and
industrious showroom and dealer personnel, an integrated part of the
family.
To reach the pinnacle of the market in Brand category combined with
customer segmentation
and strengthen our position there.
Develop an integrated human resource policy and implement its
consistent use through the
organizational training, authority commensurate with responsibility and
recognition for
performance.
To ensure that every member of the management team will be a
person of top capability.
Introduce methods to plan for the provision of required caliber and
quantity if staff.
Assist the organization in becoming more customers aware and
responsive in changing needs
of external marketing environment.
Define and encourage implementation of an improved
communications culture throughout
the organization.
Faster a leadership style throughout the organization which encourage
the respect for
individuals, teamwork and close identification with customers.

15
Target Marketing
The garments segment its customers by types of variety garments
product ownership. It believes that
the types of garments product that a person owns say volumes about
their driving, and therefore their
garments product service and detailing requirements.

1. New Buyer: Buyer of newer garments product most likely to use

garments. These owners take
great pride in their garments product and will bring them often to the
resurge and detail service. The
goal with these customers is to promote regard use of the wash and
detail service. The aim is to
inform these customers that will keep their garments looking as it did the
day they drove it off the
lot.

2 New Business Buyer: These people have either owned their low-
amount polo shirt for fulfillment
of their need or are unable to afford the expense of a high-amount
garment product but want the feel
of relaxed quantity. Both of this group wants to keep their garment in the
best shape possible. These
who have bought garments product will often spend in their garment and
will place high importance
on keeping their garments product looking good. This owner will bring
their garments product in for
regular service and occasion details.
3 Middle Classes Business: These people are often sultry or middle-
classes business men and will
regard the look of their garments product as important, they will also
pride themselves on the look of
their garments product and will have their garments product resurge
service (at least) half a year.
This driver will have an occasion detail, but will keep their garments
product so active the detail will
not be necessary very often.

4. Lifetime owners: Many of these people have owned their garments

product for more than five or
six year, and are more likely to be less income business people. They are
attached to their garments
product as best alternative and though it may be more sensible for them
to purchase an new garments
product, they like their T-shirt, polo shirt, long sleeve, short sleeves to
look strong. And want to keep
it in good shape but are not tied up in the look of their garments product.
For this reason, they will
not have detail carried out on their garments product unless they are
selling it.

Positioning
All marketing strategy is built on STP Segmentation, Targeting, and
Positioning. A company
discovers different needs and groups in the marketplace, targets those
needs and groups that it can
satisfy in the super way, and then positioning its offering so that the
target market recognizes the
company's distinctive offering and image. It seeks to position themselves
as the premier T-shirt
service provider in the urban area. This positioning will be achieved by
leveraging their competitive
edge. The garments competitive edge will be anywhere in the country
and the quality of the buyer
address in the country. As mentioned, the people have been in the
garments product business for
over 25 years, and have an excellent reputation and a myriad of both
business and personal contacts.
In addition, Mark has put great deal of emphasis on creating a system
that is both fast and effective,
which will keep costs, in terms of time spent per garments product to a
minimum.

Marketing Mix:
Marketing mix is comprised of the following approaches to pricing,
distribution, advertising and
promotion, and service. On the other hand we know marketing mix is a
combination of four
elements:-
1. Product
2. Incentive
3. Distribution
4. Communication
16
The following figure will make it clear.

Marketing Mix
Product Mix
Product Line Range
Design concept
Color Appeal
Style Intention
Package Proposal
Brand Name
Price Structure
Service Function
Warranty Offer
Communication Mix
Advertising
Sales Categories
Field Sales Force
Public Relation
Merchandising
Telephone Sales Force
Distribution Mix
Physical Distribution
Supplies
Stock
Handling
Storage
Transportation
Warehousing
Incentive Mix
Money off
(Cash
Discount)
Competition
Sales
Promotion

17
Operational Plan: The operational Plan of a garment can be presented
in the following
manner.

Sales Promotion:
The sales promotion activities of a garment are described in the
following pattern.
Company Objective
Proposed
Marketing Activities
Information Financial Parameters Marketing
Audit
Research
Facilities
Analysis Brand Feasibility
Study
Marketing
Analysis
Product
Mix
Decision Marketing Marketing
Mix
Marketing
Budget
Action Marketing Strategy
Sales Promotion
Consumer Incentive
Price Reduction
Competitions
Personality Promotion
Demonstration
Trade Incentive
Trade Exhibition
Showroom Promotion
Trade Bonus
Distribution incentive

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Product Name:
Trouser
Long Sleeve Shirt
Short Sleeve Shirt
Polo Shirt
Denim Pant

Financials, Budgets, and Forecasts:

This section will offer a financial overview of Garments as it relates to
the marketing activities. The
garments address Break-even Analysis, Sales Forecasts, Expense
Forecasts, and how they related to
the marketing effort.

Sales Forecast:
The following chart forecasts sales based upon the Market Segmentation
Strategy. Sales are seasonal
in this industry, tending in the winter summer month, and to drop off in
the winter. However,
Garments will aim to flatten sales across the sales cycle by targeting
segments that will want to keep
their qualified product and looking good year round.

Expense Forecast:
The expense forecast will be used as a tool to keep the department on
target and provide indication if
corrections need to be made. Additionally, it will require the department
to undertake long-term
analysis.

Controls:
The purpose of Garments marketing plan is a guide for the organization.
The following areas will be
monitored to gauge performance:
Revenue-monthly and annual.
Sales- monthly and annual.
Repeat business.
Customer Satisfaction

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Implementation Milestones
The following milestones identify the key marketing programs. It is
important to accomplish each
one on time and on budget.

Marketing Organization
The Garments have been already taking various organize Marketing
activities for accomplishment of
target market goals

Contingency Planning

Difficulties and Risks

Problems generating visibility.
Overly aggressive and debilitating actions by competitors.

Worst Case Risks May Include

Determining that the business cannot support itself on an ongoing
basis.
Having to liquidate equipment to cover liabilities.

Conclusion:
With the first five months of the post-MFA period gone, the RMG sector
has not drastically
deteriorated, as most previous studies had predicted. Even though the
initial shock of the post-MFA
competition has had only a little impact on the woven sector, knitwear
sector has shown unexpected
growth rate. If the trend continues, it is going to be the major export
earner of the country. With
positive responses from the experts and the owners alike, the knitwear
sector is likely to have more
opportunities in the future, which they are likely to use to overcome the
threats. However, if proper
measures are not taken, it may face difficulties, like competition from
India. Even a few years back
India lagged behind Bangladesh in terms of the production facilities.
Now, with the support from the
government, the manufacturers over there are able to produce at a lower
cost, compared to
Bangladesh. Therefore, the knitwear sector should get adequate support
measures from the
government, as well make a coordinated effort to be able to fight in the
global arena. As it is not up
to the required standard in terms of efficiency and technological
equipment, proper measures should
be taken to build up the infrastructure to be able to be as competitive as
possible. The knitwear holds
a bright prospect, but only if measures are being taken properly will it
continue to contribute the way
it has in the last 6 months of the current fiscal year.