Knittex Industries Ltd. is a leading textile manufacturer in Bangladesh, specializing in producing high-quality knitwear products. Established with a commitment to excellence, the company plays a significant role in the country’s thriving ready-made garment (RMG) sector. Over the years, Knittex Industries has built a strong reputation for its focus on sustainability, quality control, and ethical business practices. The company is known for its long-term relationships with international buyers, many of whom have been associated with Knittex for over a decade. By investing in modern machinery and human resources, Knittex has maintained competitive efficiency levels, continually striving for innovation in production processes. Despite challenges like energy shortages and economic fluctuations, the company remains resilient and contributes to Bangladesh’s position as a global leader in knitwear exports. With a focus on green manufacturing and meeting global compliance standards, Knittex Industries is committed to sustainable growth and maintaining its strong presence in the international market.
A few days ago, team textile focus met Ehsan Haq, Director, Knittex Industries Limited and BAYLA, to discuss RMG sector growth and future. Summary of this conversation is given below for our readers-
About the industry:
First of all, the freedom we have gained in the current times is the freedom to speak our minds, and this is a major achievement. Secondly, as a businessman, I am optimistic that the corruption and chaos that plagued our country will soon be resolved. After the Rana Plaza incident, the state of the industry became highly concerning, and orders from international buyers dropped significantly. Later, industry owners and others worked tirelessly to restore the reputation of Bangladesh’s RMG sector, and as a result, we are now ranked second globally. During the Rana Plaza incident, we couldn’t show any positive aspects of our industry, and failing to do so would have had a severe impact on our largest export-oriented RMG sector. Though we worked hard to recover, the COVID-19 pandemic, recent unexpected events, and other circumstances have caused significant damage to our business. If I talk about our buyers now, our repeat buyers, who have been with us for almost 15-20 years, have not lost trust in us, which is a positive sign for our company. However, I am concerned about future orders for Bangladesh. If buyers feel that human rights violations might occur here, as happened last month, they might not place orders with us for the next season. This is something we need to be concerned about, and we need to convince buyers that our country has the economic stability and ability to fulfill their orders.
Looking forward:
Our interim government can play a significant role in this regard, as the reputation of the Chief Adviser is very positive internationally. If the interim government takes any steps, I believe it will be a positive direction for the RMG industry. From our country’s history, we can see that political issues have always existed, and no one knows what will happen next. We have faced significant losses in our banking sector, which is why we are seeing a lot of fluctuation in the dollar rate. Another major problem we face is the huge energy crisis, especially in Konabari, Gazipur. Due to this, we often cannot make shipments on time. As a result, we have to discuss air shipments or discounts with buyers. I believe other textile industries would agree with me regarding the gas and energy shortages, as they are facing the same issues. While I haven’t received any indication from my buyers that they will stop placing orders, I have heard from other industries that some buyers are shifting their orders to other countries. Sri Lanka and India are currently ahead of us in terms of receiving orders, which is a significant loss for us. This is not a new issue for our nation, as many of us are still struggling with inflation, and some haven’t yet recovered from the losses caused by COVID-19. The Rana Plaza incident caused nearly a 10% loss in our RMG exports, but we managed to recover from it. Various organizations should promote us more and address these issues so that we can restore our reputation. We need to ensure that everything, from customs to banks, transport, gas, and the energy crisis, runs smoothly as soon as possible. Our industry already has the infrastructure, and we need to make use of it and utilize it properly. Over the past decade, we have survived many challenges and made significant progress in terms of RMG export growth. I am hopeful that by working together, we will achieve even more and receive better feedback in the future.
About Knittex:
Knittex Industries Ltd. has established itself as a reliable and resilient player in Bangladesh’s RMG sector, known for maintaining long-term relationships with buyers spanning over 15-20 years. Despite facing challenges like the aftermath of the Rana Plaza incident, the COVID-19 pandemic, and energy shortages, the company has consistently worked to rebuild its reputation and improve its operations. Knittex’ s commitment to sustainability, quality, and timely delivery has allowed it to remain competitive in the global market. With a strong infrastructure in place and an optimistic outlook towards overcoming current economic and political challenges, Knittex Industries Ltd. continues to contribute to Bangladesh’s position as a leading RMG exporter while striving for further growth and stability.
