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New investments, technologies can make Bangladesh ready for Industry 4.0


New investments technologies can make Bangladesh ready for Industry 4.0Starting from 1980, over the years, Bangladesh apparel industry has achieved phenomenal export growth. User-friendly policies adopted by the country have helped it emerge as the second largest apparel exporter in the world. In 1985, Bangladesh also started connecting its files stored in computers through a network system. As per a Daily Star report, it is now preparing to enter an advanced stage by using the Internet of Things (IOT) technology to connect every object to Big Data.

A new era in fashion evolution

Bangladesh has also stitched around 102 million smart wearable devices into its clothing since 2016. These devices mark a newNew investments technologies can make Bangladesh ready for Industry era in the country’s fashion evolution. The industry is adopting digitization in all aspects of business including virtual photo-realistic simulation of garments. Robots and cobots have been introduced on apparel production floor and now aims to introduce other future technologies such as 3D printing or additive manufacturing.

Emerging young startups like Shoes of Prey, Unmade, Farfetched, etc are introducing innovative services to enhance customers’ shopping experiences. Most of these startups are focusing on the business-to-customer (B2C) model rather than the earlier B2B2C model.

Pursing SDGs with innovative technologies

An outstanding achiever of the Millennium Development Goals (MDGs), Bangladesh now aims to purse the Sustainable Development Goals (SDGs).Young shoppers are opting for products confirming to their deepest value systems. This is encouraging brands to focus on sustainability and environmental impact of their products.

Bangladesh is also adopting latest technologies and innovations to introduce new solutions to save water, energy, and resources. So far, the country has introduced biofibres, waterless dyeing, and technologies to convert waste into new fibers. It now aims to enhance apparel competitiveness and adopt industry 4.0 standards.

For this, Bangladesh needs to enhance investments in human capital. It also needs to monitor new technologies being introduced in the fashion industry alongwith the skills, quality and quantity required to operate them. Equipping workers with the right skill-sets can help Bangladesh sustain competitiveness, product innovation, and sustainability in the industry.