If the Garment Industry Collapses, Bangladesh Will Collapse Too! Immediate Action Needed from the Interim Government

Rajuan Ahmed

The garment industry is the backbone of Bangladesh’s economy, the primary source of foreign currency earnings, and the livelihood of millions. Today, this crucial sector stands on the brink of disaster! If Bangladesh’s largest employment sector crumbles, the entire nation will plunge into a deep economic crisis. Yet, shockingly, this industry is not receiving the urgent attention it desperately needs.

Why This Neglect?
The garment industry directly and indirectly employs around 25 million people. It’s not just the workers who rely on it—business owners, transport operators, port laborers, raw material suppliers, and countless other industries connected to it would also suffer if it collapses. The impact would be catastrophic, severely crippling Bangladesh’s economy.
Despite its undeniable importance, previous governments have failed to provide the necessary support. Instead of focusing on protecting such a vital sector, they prioritized holding onto power while ignoring the struggles of millions.
Political Apathy Has Led to This Crisis
For decades, those in power have neglected the garment industry, failing to implement meaningful solutions to sustain its growth. Many government officials were more focused on personal and political gains rather than ensuring the stability of the country’s largest export sector.

This industry contributes over 80% of Bangladesh’s total export earnings. Yet, instead of receiving incentives and policy support, garment factory owners are being crushed under the weight of high bank interest rates, energy shortages, corruption, and mismanagement. Rather than attracting more foreign investment, factories are shutting down, leaving thousands of workers unemployed.
India’s Silent Conspiracy – A Neighboring Country Trying to Weaken Bangladesh
It is no secret that India has long sought to undermine Bangladesh’s garment industry. This sector is our economic lifeline, and its downfall would leave the country not only financially weak but also politically vulnerable. India’s strategy is clear—exert pressure on Bangladesh’s labor-intensive industries to weaken its position in the global market.
How Is India Doing This?
 1. Building a Competing Industry: India is rapidly developing its own garment sector, using cheap labor to capture Bangladesh’s market share.
 2. Raising Raw Material Costs: Indian suppliers are increasing the prices of essential raw materials like yarn and fabrics, making production more expensive for Bangladeshi manufacturers.
 3. Discouraging Foreign Investors: India is actively persuading international brands that investing in Bangladesh is risky, pushing them to shift production elsewhere.
Should We Stay Silent? Or Take Action?
The Interim Government Must Step In—Decisive Action Needed Now!
The future of Bangladesh’s garment industry hangs in the balance. The interim government, led by Chief Adviser Dr. Muhammad Yunus, now has a golden opportunity to bring meaningful change. If the right steps aren’t taken immediately, rescuing this sector in the future may be impossible.
Dr. Muhammad Yunus, a globally respected economist, understands the principles of sustainable development. He must act now by implementing urgent measures, such as:
✅ Providing Special Incentives – Offering low-interest loans and special export benefits to struggling manufacturers.
✅ Ensuring Uninterrupted Gas and Electricity – Factories must have a stable energy supply to maintain operations.
✅ Attracting Foreign Investment – Encouraging international brands to set up production facilities in Bangladesh.
✅ Protecting Workers’ Rights – Ensuring fair wages, timely payments, and improved working conditions.

If the Garment Industry Falls, Bangladesh Will Fall Too!
Failing to save this industry will have disastrous consequences. Exports will plummet, unemployment will soar, the economy will spiral into crisis, and social unrest will escalate.
We must remember—the garment industry is the lifeline of Bangladesh’s economy!
Dr. Muhammad Yunus and the interim government must take swift and decisive action to protect this vital sector. Any further delay could push Bangladesh toward economic catastrophe.
The time to act is now! Let’s raise our voices and demand immediate intervention to save Bangladesh’s garment industry!

Rajuan Ahmed:Columnist,Analyst; Editor Arthonity.com