Saturday, 10 December, 2022

Bashundhara Gold Refinery: Bright prospect awaits jewellery industry

  • Sun Online Desk
  • 22nd November, 2022 08:30:29 PM
  • Print news

With the country’s infrastructural development and economic progress, many prominent companies have been venturing into innovative business concepts. The initiative of setting up the first-ever gold refinery by Bashundhara Group, one of the country’s leading business conglomerates, was such an attempt receiving huge appreciation from the very beginning. Now, the important milestone in transforming the much-cherished dream of bringing a gold refinery of our own into a reality is just a few steps away. After having done almost all necessary preparation, the refinery has aimed to come into operation the next year. That much-anticipated Bashundhara Gold Refinery Limited is expected to start production in March next is a good piece of news given the impact it will bring in our national economy.

It is claimed by businesspersons and believed by market analysts that the gold sector can be the major contributor to export earnings as the value addition of the item is higher than any other product. The global jewellery market is expanding across the world. The market was equivalent to $229.3 billion in 2019 and is now projected to reach $291.7 billion by 2025. Currently, the lion's share of the jewellery and watch market revenue is attributed to China, followed by the United States, Japan and India. Bangladesh's share in this sector is abysmally low. However, with its goldsmiths' high repute for eye-catching designs, our country has all the potential to take this lucrative opportunity and strengthen its position in jewellery export. And Bashundhara Refinery Ltd has widened that scope. Once commercial production begins, the gold refinery is expected to facilitate the export of gold ornaments and put Bangladesh in the race of ornament-exporting nations. And the gold sector will stand tall as a leading foreign export-earning sector.

We have the vision to be a developed country by 2041, attaining which needs overcoming many challenges, including economic ones, that will face us in the coming days. So, the country should take every opportunity to expand its business and earn as much foreign exchange as possible. And we believe that a vibrant jewellery industry can be one of the pillars of the country’s economy to conquer that challenges.

Source: Sun Editorial