Glass industries pose Tk 2,000 cr market
With huge export potentials
Ashfaque Choudhury: The glass industry has played a vital role in the country’s growth, providing essential materials for construction and other things as Bangladesh is a developing country with a rapidly growing economy.
According to sources, the country has over 50 glass factories with an estimated production capacity of 500,000 tons per year, producing flat glass for construction, household items, and packaging.
Bangladesh exports glass products to several countries, including India, Pakistan, and the Middle East. The industry has been growing in recent years, with exports increasing by over 20% in the past five years. This growth is due to the increasing global demand for glass products and Bangladesh’s favorable investment climate.
From July to February of FY2021-22, Bangladesh’s exports of glass and glassware increased by 167 percent, to $14.37 million from $5.38 million last year.
According to the Export Promotion Bureau, Bangladesh used to be totally reliant on imports for decades, but the country now has a glass market worth around Tk 2,000 crore annually.
The government-owned Usmania Glass Sheet Factory, Nasir Glass Industries, AB Glass Industries, and PHP Float Glass Industries are all important producers in the area. Mohammad Hossain Alamgir, President of the Bangladesh Glass Merchant Association (BGMA), says that the business is growing by 15% to 20% every year and that it employs more than 40,000 people.
Despite the growth of the glass industry in Bangladesh, industry insiders think that there are still challenges that need to be addressed. These include a lack of modern technology.
The lack of modern technology is one of the biggest challenges for the glass industry in Bangladesh, as is the lack of investment in modern technology and equipment. This results in a lower level of efficiency and higher production costs, which makes it difficult for local glass manufacturers to compete with imported glass products. To fix this, the government should put money into new technology and infrastructure and give businesses incentives to update their equipment.
The cost of production in Bangladesh is higher than in other countries, making it difficult for local glass manufacturers to compete with imports. This is due to a lack of access to financing, high energy costs, and the need to import raw materials.
Another major challenge for the glass industry in Bangladesh is a shortage of skilled labor. This results in lower productivity and quality control issues, which negatively affect competitiveness. To address this, the government should invest in training programs and education for workers, as well as offer incentives for businesses to recruit and retain skilled workers.
Imported glass products from countries such as China and India pose a significant challenge to the glass industry in Bangladesh. These products are often lower in price, making it difficult for local manufacturers to compete. To fix this, the government can make policies to cut down on the import of these goods or offer incentives for exports to make local glass manufacturers more competitive.
Bangladesh has a chronic shortage of energy, which affects the production of glass and increases costs. The government should put money into developing new energy sources and making the current energy supply more efficient so that businesses can save money.
Many small and medium-sized businesses in the glass industry face difficulty accessing financing, which limits their ability to invest in new technology, expand production, and create jobs. The government should facilitate access to financing for these businesses through programs such as low-interest loans or grants.
The lack of a well-developed transportation and logistics network makes it difficult for local glass manufacturers to transport their products to market. The government should put money into roads, ports, and other transportation and logistics infrastructure to make transportation cheaper and more efficient.
The supply chain management of the glass industry in Bangladesh is often weak, which results in delays and disruptions to production. The government can help build a strong supply chain network by giving businesses technical help and training and by investing in infrastructure that makes it easier for goods and materials to move.
In conclusion, the glass industry in Bangladesh has enormous potential for growth and competitiveness, but it must overcome the many challenges it faces. By working together, the government, businesses, and workers can create an environment that supports the development of a thriving glass industry, with greater exports and job opportunities for the people of Bangladesh.
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