Abstract:
The garment business is by far the largest employer in the country, generating $5 billion annually
and accounting for over 66% of all employment, on average. One of the most notable social and
economic advances in modern Bangladesh is unquestionably the overall impact of the
ready-made clothes exports. The growth of the garment export industry has had profound effects
on Bangladesh's population and economy, with between one and ten million professionals
employed in semi-skilled and talented vocations producing apparel for trades. There are around
4,500 factories in Bangladesh that produce garments, and up to 10 million jobs could be directly
or indirectly affected by this industry. About 80% of workers in the garments industry are
women. More than any other sector, the ready-made clothing industry has the ability to
contribute to the reduction of poverty. It has been discovered that Bangladesh's propensity for
low labor costs is the primary factor contributing to the shift in the country's apparel
manufacturing industry. The remuneration structure in the apparel industry around the world can
be used to explain why this exchange occurred, according to Bangladesh Garment Sector and
Global Chain. In the United States, the total hourly work price (wages plus incidental benefits,
US$) is 10.12, however in Bangladesh it is only 0.30. This distinction increased global apparel
exports from $3 billion in 1965, with developing nations contributing just 14% of the total, to
$119 billion in 1991, with developing nations providing 59% of the total. The number of workers
in Bangladesh's fast fashion apparel industry was 582,000 in 1991 and increased to 1,404,000 in
1998. However, the number of clothing industry professionals in the USA decreased from
1,106.0 thousand in 1991 to 765.8 thousand in 1998. The enormous success of ready-made
clothes exports from Bangladesh over the past 20 years has exceeded even the most optimistic
expectations. Far East Knitting & Dyeing Industries Ltd. (FEKDIL) prides itself as a leader and
trend setter when it comes to fulfilling social responsibility towards its workers and the
community as a whole. Over the years the company has developed a comprehensive and
structured CSR policy.
