Industry and industrialization in Bangladesh

## The industrial sector's role in economic development of Bangladesh is immense. Growing industrialization is essential for sustainable economic development and social progress. The economic development of a country depends mainly on the industrial and industrialization of that country. Due to globalization, the current world economy is becoming a free-economy. Therefore, the progress of the industry is essential for the survival of the market in competitive market.   ## Bangladesh's industrial structure is backward and weak. As a result of nearly 200 years of British rule and 24 years of Pakistani rule and exploitation, the economic condition of Bangladesh is still fragile. As a result, it was not possible to expand the industrialization. Industry is usually meant to make raw materials in final form of machinery with the help of machinery in the factory. Sufficient raw materials, lack of capital, lack of skilled labor, lack of education system are the major problems or obstacles in the way of industrialization. However, there are many progress in the industry today. As per Bangladesh Economic Survey 2013, the contribution of the industrial sector in the fiscal year 2012-13 is 31.98 percent.  [source](https://www.google.com/search?q=%E0%A6%AC%E0%A6%BE%E0%A6%82%E0%A6%B2%E0%A6%BE%E0%A6%A6%E0%A7%87%E0%A6%B6%E0%A7%87+%E0%A6%B6%E0%A6%BF%E0%A6%B2%E0%A7%8D%E0%A6%AA+%E0%A6%93+%E0%A6%B6%E0%A6%BF%E0%A6%B2%E0%A7%8D%E0%A6%AA%E0%A6%BE%E0%A7%9F%E0%A6%A8&source=lnms&tbm=isch&sa=X&ved=0ahUKEwiq8ZDSzavhAhUKU30KHS6dCuYQ_AUIECgD&biw=1280&bih=913#imgrc=pQU8D5Ed-PHx5M:)] ## In order to accelerate industrialization in 2011, the Industrial Policy-2010 was declared as 'Industrial Policy-2010', considering industrialization or industrial sector as the most important sector. The main objective of this policy is to create productive employment, to bring women in the mainstream of industrialization process and to eliminate poverty. In addition to industrial policy, the goal of reducing the number of unemployment, hunger and poverty-stricken population has been achieved by building a rich and modern industrial sector in the sixth Five-year Plan 2011-2015.   ## Bangladesh is one of the world's poorest countries. According to the Economic Survey 2012-13, the per capita income of the people of this country is 923 USD. According to the latest light on May 22, 2014, the per capita income is 1190 US dollars. Different industries are being developed for the economic development of this country. The main industries of Bangladesh are discussed below:  [source](https://www.google.com/search?q=%E0%A6%AC%E0%A6%BE%E0%A6%82%E0%A6%B2%E0%A6%BE%E0%A6%A6%E0%A7%87%E0%A6%B6%E0%A7%87%E0%A6%B0+%E0%A6%B6%E0%A6%BF%E0%A6%B2%E0%A7%8D%E0%A6%AA%E0%A6%A8%E0%A7%80%E0%A6%A4%E0%A6%BF&source=lnms&tbm=isch&sa=X&ved=0ahUKEwjs5LWCzqvhAhWSfisKHZCcBPoQ_AUIDygC&biw=1280&bih=864#imgrc=ytl4FhepKeqNjM:) ## Clothing industry plays an important role in industrialization and economic development of the country. Currently, more than 3500 factories and 1.6 million workers in Bangladesh's garment industry have more than 66 percent women. Bangladesh exports garments to more than 20 countries in the world. Bangladesh is the second world in garment exports. China first in ready made garments export Bangladesh exports most of the garments in the United States, which is 56% of total exports. The European Union is the second largest market in the garment industry. The total export income from the ready-made garments industry is shown below: ## Year 2010-2011, 2011-2012, 2012-13 earnings 843.2 million. US $ 9603m US $ 12040m US Dollar Bangladesh Economic Survey - 2013  [source](https://www.google.com/search?q=%E0%A6%AA%E0%A7%8B%E0%A6%B6%E0%A6%BE%E0%A6%95+%E0%A6%B6%E0%A6%BF%E0%A6%B2%E0%A7%8D%E0%A6%AA%E0%A6%83&source=lnms&tbm=isch&sa=X&ved=0ahUKEwjYp6u4zqvhAhUDFHIKHaljBu0Q_AUIDygC&biw=1280&bih=864#imgdii=KYJWVZgAGa__eM:&imgrc=Gz_kbuRFL481mM:) ## Jute is a major economic crop in Bangladesh. In the past, the maximum foreign currency as the main export product was achieved from jute. In Bangladesh about 5 million people are engaged in jute cultivation and 2 lakh workers are engaged in jute industry. Export income from jute goods is shown through the table- Year 2010-2011 2011-2012-13 Paper goods 758 million US $ 701 million US $ 456 million US $ 357 million US $ 266 million US $ 136 million World Economic Survey -2013  [source](https://www.google.com/search?q=%E0%A6%AA%E0%A6%BE%E0%A6%9F+%E0%A6%B6%E0%A6%BF%E0%A6%B2%E0%A7%8D%E0%A6%AA&source=lnms&tbm=isch&sa=X&ved=0ahUKEwj1s47mzqvhAhVFf30KHT5mDZYQ_AUIDigB#imgrc=6ovWmghv1f7ggM:)