Experts called for embracing innovation to address future challenges of the apparel industry, especially after Bangladesh’s LDC graduation even as they pressed for redefining the business model and upgrading business capabilities.
They came up with the observations taking part at a virtual event organised by BRAC Social Innovation Lab, H&M Foundation and The Asia Foundation.
Speaking at the said event, BGMEA President Faruque Hassan, reportedly, said the priority now is to transform the existing business model – from labour-intensive to innovation leading to modern manufacturing and business processes.
According to reports, at the event, the organisers announced six winners of the international competition titled ‘STITCH for RMG: Global Innovation Challenge’, which was launched in 2021.
The BGMEA Chair further, reportedly, added that global buyers were looking for more sustainable manufacturing sources, which are resource-efficient.
“…without the use of technologies, optimum use of water, energy and other resources cannot be ensured,” reportedly, claimed Faruque Hassan.
