Bangladesh has the largest textile industry in Southeast Asia and its textile industry will be a major player in the global textile industry.
The UK government’s strategy to increase the textile industry to $1bn in 2035 is the result of a new UK Industrial Strategy (UKIS) which has been announced at the end of last year.
The strategy aims to increase investment in the textile sector to $500bn over the next decade.
The new strategy aims at increasing the textile market by up to 40% in the UK by 2020.
The government’s focus is on the South East Asia region, where the textile industries is a key contributor to the economy.
In the UK, the textile markets in the Asia Pacific region and in Europe and North America are growing.
The government said the textile manufacturing sector will create over 4,000 jobs and provide a $600m investment.
This will allow the UK to lead in global trade with the world’s top textile markets and will boost the value of the UK’s textile industry by over $1 billion, it said.
According to the UK government, the global demand for textiles is growing at an incredible pace and the textile products are being increasingly exported to countries across the world.
It is hoped that the UK will be able to support its textile industries and create a vibrant global textile market.