textile industry collapse – Bharat Pulse News

Bangladesh’s textile industry, the largest contributor to its export earnings and a critical driver of employment, is under significant strain following recent political upheaval. The change in leadership and new policy directions under the interim administration have triggered concern across the sector, with growing fears of widespread layoffs, factory shutdowns, and loss of global orders. Garment Sector Faces Shutdown Pressure Prominent industrialist and actor Ananta Jalil has raised alarms over the government's handling of the garment industry. Accusing Chief Adviser Md Yunus of actively working against the sector, he stated, “millions of workers have been rendered jobless” and that the government is “forcefully shutting down the garment sector.” The industry, responsible for more than 84% of Bangladesh's foreign exchange income, now faces an existential threat, according to industry stakeholders. Massive Job Losses Amid Peak Season The situation has become especially dire as it unfolds during Ramadan and ahead of Eid, a period traditionally marked by high production and demand. The sudden decline in factory operations has left thousands of workers, especially women who make up a significant portion of the garment workforce, without employment. With over four million people directly employed in the textile sector and many more dependent on it indirectly, the economic and social fallout is mounting rapidly. Export Orders Decline, Global Brands Reassess Ties The turmoil has also shaken the confidence of international buyers. Bangladesh, which holds the position of the world’s second-largest exporter of ready-made garments after China, is now witnessing a shift in global orders. With uncertainty gripping the local manufacturing environment, many brands are beginning to explore alternative sourcing destinations in countries like Vietnam and India. Economic and Political Pressures Mount Following the removal of Prime Minister Sheikh Hasina in August, the new administration led by Md Yunus has introduced reforms that, according to critics, are undermining key economic sectors. The textile industry, being a highly labor-intensive and export-dependent sector, has been among the hardest hit. Business leaders have warned that unless immediate policy corrections are made, the consequences could be long-lasting and deeply damaging. Urgent Calls for Policy Reversal Industry leaders are urging the interim government to step in with urgent relief measures, including restoring export incentives, re-engaging with factory owners, and offering financial support to stabilize production and employment. Many believe that without proactive intervention, the garment industry may face irreversible damage, undermining decades of progress in Bangladesh’s economic development. As global attention turns to the country’s unfolding crisis, the textile sector’s fate may well determine the trajectory of Bangladesh’s overall economic recovery in the months ahead.

Bangladesh Textile Industry Hit Hard by Political Unrest

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