Bangladesh’s target investment-GDP ratio of 27.35% by fiscal year 2024-25 hinges on the pivotal growth of the light engineering sector. Presently contributing around 3% to the GDP and generating Tk 20,000 crore in annual revenues, this sector is advancing by 10% annually. Over 16 lakh people are employed within it. However, challenges persist, including import reliance, policy inconsistencies, and a lack of incentives. Urgent policy harmonization and coordination among agencies are needed to tap into the potential of this untapped sector. This burgeoning industry could serve as a substantial backward linkage for multiple local sectors, such as food, electronics, and pharmaceuticals, but a comprehensive study and revised tariff structures are essential for its growth.
Light Engineering Driving Investment GDP Growth
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