Bangladesh, April 27 -- The country's garment industry, the backbone of the country's export economy, is confronting one of its most prolonged downturns in recent memory, with the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) warning that around 400 factories have shut down over the past three years and many more are teetering on the financial edge.

The alarming disclosure was made in a written statement presented at a pre-budget discussion held at the National Board of Revenue (NBR) headquarters in Agargaon on Sunday. BGMEA President Mahmud Hasan Khan Babu and other sector leaders attended the meeting, where they urged the government to craft a business-friendly budget for the 2026-27 fiscal year that can help rever...