Gold business has export opportunity: Bashundhara MD

Bashundhara Group Managing Director Sayem Sobhan Anvir has said gold has the potential to become the next emerging product in the country’s export basket if the sector gets policy support from the government.

Bangladesh Jewellery Samity (BAJUS) organised a reception at The Westin Dhaka in the capital to recognise the industry leaders.

Addressing the reception as a special guest on Friday, he said there are 20 million non-resident Bangladeshis around the world who have an interest in gold items made in their own country, said a press release.

"Our neighboring country India earns huge money from gold exports. Around 80 percent of handmade gold ornaments are manufactured in Bangladesh and India. Now, we should focus on exporting gold items. There’s huge potential for gold export," he said.

Sayem Sobhan also sought policy support from the government for promoting the gold export.
"There’re 20,000 registered jewelry shops in Bangladesh that have become an emerging industry. The gold business can add more values than the garment industry if the sector gets policy support," he said.

BAJUS President Enamul Haque Khan said the cost of gold processing in Bangladesh is higher than India due to huge wastage.

"We should focus on research to reduce the wastage in gold processing. This business can't survive without expanding its footprint into the international market. And research is important to enter the global market," he said.

He also claimed that no jewelry shop has received any stimulus support during the coronavirus pandemic.

There are around 2.8 million people directly or indirectly involved in the gold business, according to the BAJUS president Enamul Haque Khan.

At the programme, 14 individuals were honored for their contribution to the gold industry, and they are: Dhaka Sworno Shilpi Songho Director Sangkor Bosak, Dhaka Gold Director Subhash Saha, Bangla Gold Director Mizanur Rahman Manik, BAJUS lifetime member Ali Akbar Khan (posthumous), its founding President AZM Sanaullah, founding General Secretary Shamsul Alam ( posthumous), former General Secretaries MA Hannan Azad, Dildar Ahmed Selim, Dr Dewan Aminul Islam Shahin, incumbent General Secretary Dilip Kumar Agarwala, former Presidents MA Wadud Khan and Dr Dilip Kumar Roy, Kazi Sirajul Islam and Ganga Charan Malakar.

SOURCE : Business Insider