Being an insider in the garment trade I can safely guarantee Standard Group used to export 10% of total woven garment export in Bangladesh which roughly is $1billion. Our $20billion industry contributes to 17% of the economy. So in reality Standard Group contributes to .5% of the countrys GDP. This closure of the factory will be no less significant to the economy of Bangladesh than the effect the collapse of the twin Towers had on the US economy. Another fact fyi, we the owners are gradually backing out of this industry since the aftermath of the Rana Plaza and this will be another nail in coffin for us. May Allah save our country!!!
Posted on: Mon, 02 Dec 2013 07:44:13 +0000
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