Technology transfer in the textile sector and sustainable development of Bangladesh

The Textile and apparel industry, the largest industry in Bangladesh, generates highest foreign income (76%), enhances industrial revolution, increases social and gender balances and creates largest employment opportunity. Mainly depend upon the cheaper labour cost, quota and GSP facilities textile and apparel industry of Bangladesh is developed. To face the global challenges ahead for the textile and apparel industry of Bangladesh cheaper labour is not sufficient. Since the global environment becomes more competitive and rapid technological changes generate new or improved products quickly as well as exploit them speedily in markets worldwide, finding the innovative processes that reduce production cost become increasingly important determinant of its competitiveness. For a sustainable development of Bangladesh adoption of innovative technology in textile sector is very important. International technology transfer will increase productivity and quality that will reduce the production cost. This research reveals the economic benefit of technology transferor and transferee, the present and potential technologies for transfer, the technology transfer environment, appropriate techniques of technology transfer and major barriers and their solutions.