Anwar Group, one of the leading industrial companies in the country, is going to invest Tk1,400 crore in denim manufacturing amid fears of a global economic downturn. The group is transforming its jute mill in Munshiganj’s Gazaria to accommodate the denim manufacturing units. Anwar Group Chairman, Manwar Hossain said that the production will begin before 2025. Anwar’s investment in denim places a lot of faith in contemporary technologies.
Mr. Manwar added that they had previously exported jute yarn to Europe. However, synthetic fiber has now taken over the market. Denim now exhibits enormous export potential. Around 1,200 employment will be created by the Munshiganj factory.
There are currently 500 facilities in the nation that make denim clothing, 40 of which produce denim fabrics. In the fiscal year 2021–2022, Bangladesh exported denim worth around $3.5 billion, representing an increase of almost 15%. Manwar thinks Bangladeshi denim has a great deal of potential to improve its export prospects.
