Knitwear industry seeks incentives to remain afloat
15 Dec '05
1 min read
In a seminar "The Knitwear sector of Bangladesh in post MFA era: changes and challenges", knitwear manufacturers requested government to offer incentives like those provided by Indian government for Ready Made Garments, especially the knitwear sector to develop local industry's competitiveness.
The seminar was organised by Bangladesh Knitwear Manufactures and Exports Association (BKMEA) at a city hotel.
Manufacturers say Indian government offered indirect incentives of 9 to 20 percent for the textile and cloth industry. On the contrary, Bangladeshi industry gets only five percent cash incentive for using local yarn and further, this will be withdrawn, come next year.
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