Govt\\\'s policy support to local fashion houses can save big amount of forex

The government's policy support to the local fashion houses could help the country save a significant amount of foreign currencies as a large volume of foreign made fashioned clothes enter into the local market annually, industry insiders said.

The market size of fashioned clothes in the country is Tk 60 billion annually. The local fashion houses could meet only 20 to 30 per cent of the total demand of fashioned clothes such as Panjabi, Saree, Salwar Kamiz and Fatua.

The rest of the demand is being met through import and unofficial channel from the neighbouring countries mainly from Pakistan and India, forcing the country to spend a large sum of foreign currencies.

The owners of different fashion houses said that country's fashion industry is matured to serve the local customers' demand. If it gets necessary government policy supports then it would be possible to fulfil the total local demand.   

The entrepreneurs of fashion houses said that India, Pakistan and Nepal have their own fashion design industry and they get policy support from the government.

"We want policy support from the government. The country's fashion industry is matured to serve the local customers and enter into the export market," president of Fashion Entrepreneurs Association of Bangladesh (FEAB) Azharul Hoque Azad told the FE Friday.

"We want the government to declare the local fashion houses as industry considering its potential to contribute to the national economy," he said.  

Nipun, Arong, Kokra, Anjans, Kay Kraft, Bangla Kraft, Sadakalo and Kumudini are the leading fashion houses in the country.

They called upon the government to give incentives to the fashion houses so that it could flourish.

They urged the government to declare the local fashion industry a 'special priority sector' , give bank loan with 5 to 7 per cent interest, give tax holiday for a certain period, making it compulsory for using local yarn by the local fashion houses    

If the fashion houses get good quality of cloths then it would be possible to increase export of clothes.

Like every year the fashion houses will showcase different types of fashion designed clothes such as fatua, panjabi, saree, salwar kamiz, handicraft and handloom based products for the upcoming Shuvo Noboborsho 1421 (Pahela Boishakh) celebration on April 14 next.

The country has backward linkage industry for ready made garment (RMG). And the fashion design houses could act as forward linkage industry, the entrepreneurs said.