INDUSTRIES (SME) OF

BANGLADESH:SDGS, 2030

Author
Md. Mahbubur Rahman
PhD research Training, UNSW, Australia & Mphil in Development Studies, Lund University, Sweden
Associate Professor of Development Studies, DBA
International Standard University (ISU)

The article discusses the need for industrialization in Bangladesh and how it can
solve various economic and social problems in the country. At the time of its birth,
Bangladesh was extremely backward in the field of industry, and almost all
industrial products had to be imported. However, in less than twenty years,
Bangladesh has made remarkable progress in industrialization, and its
development has become crucial for economic prosperity.
The article highlights the interdependence of agriculture and industry in
Bangladesh. Agriculture is the backbone of the country's economy, and the
development of the industrial sector is necessary for achieving economic
prosperity, reducing unemployment, and increasing the standard of living of the
people. The raw materials for many industries, including jute, tea, sugar, paper,
and leather, are supplied by agriculture. Furthermore, by exporting various
agricultural products, the country can earn a substantial amount of foreign
currency needed for importing industrial raw materials and machinery.
The characteristics of industry in Bangladesh include the existence of large,
small, and cottage industries, with a significant number of industries being
agro-based. However, the industry is undeveloped, and lower levels of
technology and techniques are used, resulting in low-quality products.

The article also discusses the causes of industrial backwardness in Bangladesh,

such as lack of patronage from the British and Pakistani regimes, scarcity of
capital, power and mineral resources, technical knowledge, skilled labor,
entrepreneurs, industrial loans, foreign exchange, and undeveloped transport
and communication systems.
The article differentiates between economic growth and economic development,
emphasizing that economic growth is an expansion of the system of one or more
dimensions without a change in its structure, whereas economic development is
a qualitative change in the structure of an economy that results in an
improvement in the standard of living of the people.Economic growth and
development are essential for Bangladesh's prosperity. Economic growth means
an increase in per capita income of the country at constant prices. Economic
development, on the other hand, means quantitative and qualitative changes in
the economy. Economic development requires economic growth and structural
change, such as the shift from agriculture to industry. Small and cottage
industries play a vital role in Bangladesh's economic growth and development.
They offer solutions to the unemployment problem, create employment for
women, reduce pressure on agriculture, use indigenous raw materials, contribute
to the growth of the rural economy, solve the problem of capital, and save foreign
exchange.
Finally, the article stresses the importance of small and cottage industries in
Bangladesh in solving various economic problems, such as unemployment,
employment for women, reduction of pressure on agriculture, use of indigenous
raw materials, growth of rural economy, and savings in foreign exchange.

In summary, the article highlights the need for industrialization in Bangladesh to

solve various economic and social problems. The interdependence of agriculture
and industry is emphasized, with agriculture supplying raw materials for industry
and industry providing necessary inputs for agriculture. The causes of industrial
backwardness in Bangladesh are discussed, and the importance of small and
cottage industries in solving various economic problems is stressed.