Year 8 Term 3: 8th January to 13th February 2025
Economy of Bangladesh (Chapter 4, Pages 35-45)
Economy of Bangladesh
Lesson 2: Industry of Bangladesh
Although Bangladesh is an agricultural country, some industries or mills and factories
started to flourish here since the British reign. Jute, cotton and textile industries were the
major among them. Adamji Jute Mills, the largest of jute mills of the world, was established
in Narayanganj during the Pakistan period. During this period, this wing known as East
Pakistan fell prey to discriminatory policies of West Pakistani rulers. After we became
independent in 1971, new industries and mills and factories were being established in
different parts of the country. Once jute was our largest industrial sector, other industries
like tea, sugar, cement, fertiliser leather, rail and engineering industries were there.
Presently, Bangladesh has achieved huge success with readymade garment and
pharmaceutical industries. Industries can be divided into various kinds relating to their
capital, size, production and number of workers, etc.
Large Industries
Jute, textile, cement, fertiliser, rail, engineering, electricity, etc. are large industries. These
industries require huge capital, skilled labourer, engineers, experts and experienced
managers. Their capacity of production is also very high.
Their produce meets the demand of the local market and a portion of that produce is
exported abroad. The contribution of these large industries to our national economy is very
significant/important. They serve as the backbone of our economy.
Medium Industries
Industries having capital more than 1.5 crore are known as medium industries. Exam- ples of
this kind are light engineering, silk, ceramic, cold storage, etc. They play a significant role in
national economy by meeting the demand of the people of our coun- try and employing a
large number of people.
Small Industries
Industries that have a working capital less than 1.5 crore taka belong to the small industry
group. Rice mill, small-scale shoe factory-plastic industry, food processing industry, etc. are
this kind of industries.
Cottage Industries
Usually, the owners or their family members take care of production and sales of the
products in this kind of industry. Handloom industries, earthenwares, bamboo, cane and
wood works, sari or sweet packets, incense sticks, etc. of our country are some of the
examples of such industries. One advantage of this kind of industry is it creates opportunity
of self reliance and employs a good number of people. This industry is highly important in
the national economy of Bangladesh which has a large population and is industrially
backward.
Contribution of Industry to the Economy of Bangladesh and its Future
Ever expanding urbanisation and increase in living standard have significantly increased the
importance of industries all over the world. The same implies in Bangladesh too. Here, one
can easily find ample supply of skilled and unskilled labourers at cheap wages. This interests
the foreign entrepreneurs to invest and establish factories here. The readymade garment
factories are one such example. Many foreign companies singularly or jointly with our local
entrepreneurs have set up garments factories here. Foreigners are showing interest to invest
in other sectors too. The government has established some export processing zones in order
to attract foreign investment. Besides, the government is also working to increase the port
and transportation facilities, upgrade gas and electricity supply systems, starting one-stop
service as further incentives for foreign investors. These steps are creating possibilities of
further expansion of various industries in future. Recently, the expatriate Bangladeshis are
also showing their interest to invest in our industrial sector. These are brightening up the
possibility of Bangladesh to become an industrially rich, middle-income country. It will not
only lessen poverty and unemployment of the country but also raise the financial status of
our people and strengthen our national economy.
Activity 1: Mention one of the names of small, medium, large or cottage industries of the country
and discuss its importance in our national economy.
Activity 2: Discuss in brief the future prospects of industry in Bangladesh
