What industry is the largest employer in the world?

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In this age of globalization, Bangladesh’s garment industry has gained recognition in developed countries as a brand. Large investors from the developed world are investing in the garment sector in Bangladesh for adequate manpower, an attractive labor market, and geographical location.

The industry started in Bangladesh in 1989 with the acquisition of 9 factories and 0.089 million in foreign exchange. In the 2012-2013 financial year, Bangladesh earned over 21 billion in foreign exchange through garment exports and the number of factories in this industry stands at more than 6,000.

Not only that, Bangladesh has proved its immense potential by occupying second place in the world in the export of readymade garments. So far, “Made in Bangladesh” garments are being exported to more than 150 countries. This sector contributes about 15% to the GDP of Bangladesh and continues to play a huge role in the overall economy.

And in continuation of this, the top multinational companies have got a place in Bangladesh. Such as H&M, GAP, Marks and Spencer, TESCO, UNIQLO, Li & Fung, YKK Bangladesh Pte. Ltd, Must Garment Corp. Ltd, Wal-Mart, Next Sourcing Ltd. including many more multinational organizations. Most of the mentioned organizations are included in the 100 List of the world-famous Fortune Magazine.

One thing that is particularly noticeable among the highly educated young generation at present is that while there is interest in other fields of career building, there is not much interest in the garment industry. One of the reasons behind this may be that many people do not have the right idea about the garment sector.

So, unfortunately, due to the lack of skilled workers in our country, large companies employ high-paid workers from outside the country. Nevertheless, many of those who have made a career in the garment industry enjoy a wide range of benefits, including higher wages through their own work and labor.

There are two common words in the RMG sector, Backward Linkage, and Forward Linkage. Generally, those who are involved in creating different materials before creating the original product are covered under Backward Linkage.

Forward Linkage covers all the companies that work to send the product to the buyer by packing it properly. Some of the notable organizations working in Bangladesh are Avery Dennison Bangladesh Ltd, A1 Zipper, and YKK Bangladesh Pte. Ltd etc. And Forward Linkage are some of the notable companies operating in Bangladesh – Maersk Bangladesh Ltd, Homebound Packers & Shippers Limited, DHL Worldwide Express (BD) Pvt. Ltd etc.

Although it is a labor-intensive organization, most of the workers are working class, there are many opportunities for highly educated people to work in various management positions. undergraduate/postgraduate degree holders have the opportunity to work in any of the departments in the RMG sector.

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