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Expectation from the year 2023: Let’s listen to some junior scholars

The global textile and apparel or readymade (RMG) industry in 2023 is expecting a mixed environment as a whole. As leading market analytics McKinsey’s report ‘The State of Fashion 2023’ highlights that in 2023 leading markets like the USA will observe a 5% to 10% growth, while the European market fashion sale will remain as it is or see around 3% growth due to the conflict in Ukraine. Most impressive is that the growth in Asia, the Middle East and parts of the Asia Pacific fashion market will log a tremendous boost in 2023.

junior-scholars-2023-Bangladesh-apparel-manufacturing

This positive mixed with caution vibe is depicting an optimistic yet cautious reaction among the textile and apparel manufacturing hubs – especially the world’s second biggest apparel sourcing country – Bangladesh.

Textile Today – a leading RMG and textile industry-focused innovation platform – has talked to people from various layers of the textile and apparel value chain to depict a holistic scenario.  Here you will get some forecasts from textile engineering students of different leading universities.

Homayra Anjumi Hoque, Department of Industrial and Production Engineering, Bangladesh University of Textiles

Homayra Anjumi Hoque-BUTEX

Though 2022 was a challenging year, 2023 seemed to be more challenging to the vision of economists, analysts and moreover every significant class of people. So the planning should have top-notch aspects to the reality happening around. The countries which are trying to reach development goals may witness setbacks from the economic crisis and many more cons. One of the most promising economies and apparel-sourcing hubs – Bangladesh is also on the list. In 2023, we have to keep pace with their demands and current world trend. Then, overcoming the challenges, Bangladesh apparel will see growth and our long-term fashion buyers will place more orders.

We have to work continuously to update our apparel and fashion variety and technologies. Otherwise, we will lose out to other competitor-sourcing countries like Vietnam, China, and India. We have to be top-notch about the usage of resources (Gas, water, electricity and human) in the industry so that we can maximize our output.

In terms of diversifying apparel baskets and making high-end fashion products – the industry should bring more technologies through continuous analysis. On top of that, we have to diversify more new markets and catch more buyers. In this case, branding is the key. We have to be more focused on proper branding.

In terms of challenges, the raw materials crisis is a big issue to negate for the textile and apparel industry. Moreover, as there is a big chance of inflation, and BDT currency devaluation against the USD, shrink in global fashion consumption. All in all, we have to diversify markets and products. Which will give us the edge to catch more buyers.

Despite all the challenges, Bangladesh’s textile and apparel industry won’t fall badly into the crisis. Proper planning is a paramount and unplanned investment and resources should be avoided at any cost. I am expecting an auspicious ending to this year.

Al Amin Akas, Department of Yarn Engineering, Dr. M A Wazed Miah Textile Engineering College

Al Amin Akash-Pabna Textile Engineering College

Bangladesh has the potential to be the global apparel market leader. Though there were downturns still as the buyers have trust in Bangladeshi manufacturers, the pathway to rise in the global market will be easier.

As a textile background student, the market size and opportunities of the textile and apparel industry overwhelm me. In this aspect, textile students should be more conscious regarding up-dated technologies, processes and trends to equip themselves for the future – as skilled manpower is a must require the necessity to mitigate future challenges of the Bangladesh textile and apparel industry.

Starting from academic reports, I always try to keep a viable CGPA to stand up straight in the niche market of the textile job field. In addition, the training sector and advanced textile curriculum attract me more and to sustain myself in the long run I am focusing on gathering more knowledge about advanced textiles. This year specifically I am focusing on paper publications and affiliation programs. Having said all this, working with textile today as an apprentice will pave my path at an ease. I would like to thank Textile Today for such an opportunity.

Mahmodul Hasan, Department of Textile Engineering, Bangladesh University of Business & Technology (BUBT)

Saib Khan Sami-BUTEX

My expectations or forecast for the year 2023 are:

  • Technical textiles should be Bangladesh’s next purpose of development this year where the global market of technical textiles is expected to reach $208.5 billion by 2024.
  • Digital product development should be a focus, as well as, the marketing, processing and merchandising department.
  • In 2022, 60-70% of total Bangladesh’s apparel export earnings – $8421.52 million was spent to buy textile raw materials. So, we expect to reduce the 10-15% this year through investment in the backward linkage textile industry.
  • A significant number of our factories already use renewable energy. As entrepreneurs are investing more in renewable energy – we expect it will increase more to improve efficiency as well as reduce the load from the national grid.
  • As entrepreneurs are investing more in workers’ and employers’ skill development – our skills will be more developed to rival other leading sourcing countries’ workers’ efficiency like China.
  • Already set an export target from the RMG at $46.80 billion in FY 2022-23. The energy crisis caused by the Russia-Ukraine war is affecting the sector. If we implement solar energy systems more, we can export more than $50 billion after FY 2022-23.
  • As a student, from my point of view, different RMG factories should collaborate with educational institutions more to enrich students’ knowledge by arranging workshops on new technologies.

Saib Khan Sami, Department of Industrial & Production Engineering, Bangladesh University of Textiles

Mahmodul Hasan-BUBT

 

 

The year 2022 was a time for our textile industry to recover from the effects of COVID.

However, because of the war between Russia and Ukraine, we also faced a new challenge related to natural resources such as gas and oil this year. As a result, the electricity bill has risen as well. This has a significant impact on garment pricing. As a result, our industry’s profit margins are shrinking.

We wouldn’t be able to survive in this market if we only made ready-made garments for our customers. We should put more emphasis on value-added products. If we analyze the previous three FIFA World Cups, The profit margin for this product was much higher. Demonstrates that by replacing RMG with value added products, we can increase profit margins and explore new areas of textile. As our country is facing an energy crisis, we must improve our manufacturing processes. In the coming year, our texture industry should invest in more industrial tools and techniques like six sigma, kaizen and lean 4.0, etc. to reduce waste and improve overall process efficiency. That is how we can reduce manufacturing costs and use less energy per product.

Faujia Mushtari, Department of Textile Engineering, Jashore University of Science and Technology

Faujia Mushtari-Jashore University-Science-Technology

Our country’s textile industries are suffering due to the global crisis. Our primary markets, Europe and the USA are experiencing inflation. Nobody can foresee what will happen in 2023; only predictions are possible. Compared to the COVID time crisis, we overcame every obstacle. I believe that to manufacture and sell our products, and we must look for opportunities and alternative methods and maintain a positive outlook in the face of difficulties. Universities should expose their students to industries more frequently from an academic standpoint, so that they can keep them informed about developments in such sectors. Instead of repeating the same old conventional ideas, students should be given more real-world knowledge. Different soft skills training should be integrated into academic programs, as students do not encounter difficulties when they start working.

Habiba Akter Baly, Department of Textile Engineering, Ahsanullah University of Science and Technology

Habiba Akter Baly-Ahsanullah University-Science-Technology

In the year 2023, I expect a number of encouraging trends. People will have greater options to receive high-quality education and training because of these changes.

In order to meet the expectations of the students and to improve the overall productivity, involvement, and effectiveness of the learning process, new and innovative technologies should be employed. Companies should use technology to ensure their long-term viability and enable customers to trace the history of their apparel. Manufacturers of textiles should minimize their environmental impact and many of them are starting to do so in 2023.

To optimize their positive impact, they should expand their supply chains to include recycled and reused materials.

If anyone has any feedback or input regarding the published news, please contact: info@textiletoday.com.bd

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