(Commonwealth) _ In an attempt to enhance students’ opportunities to meet global standards, Fakir Apparels Ltd (FAL), a leading composite knit manufacturing company, solidified its collaboration with the National Institute of Textile Engineering and Research (NITER) by formalizing a Memorandum of Understanding (MoU).
The primary aim of this partnership is to fortify ties and cultivate exceptional talent from the student body. The Memorandum of Understanding (MoU) between these institutions is a comprehensive agreement that aims to significantly benefit students by establishing a strong and multifaceted connection between them. It encompasses a diverse range of initiatives intended to uplift the prospects and capabilities of students to meet global standards. These initiatives include collaborative efforts in conducting research and development (R&D) projects that can lead to innovative breakthroughs. Additionally, there are plans for the implementation of comprehensive training programs tailored to enhance students’ skills and competencies. The MoU also facilitates access to employment opportunities, creating pathways for students to transition smoothly into the workforce. Technical support is another crucial aspect covered under this agreement, ensuring that students have access to necessary resources and guidance.
The signing ceremony held during the ‘Job Fair 2023,’ organized by NITER, was a pivotal moment that underscored the significance of this agreement. This day-long event served as a platform for various stakeholders, attracting participation from 11 renowned export-oriented textile composite factories and a multinational company. The presence of such esteemed entities emphasizes the industry’s interest in fostering collaborations and creating opportunities for the future workforce, solidifying the relevance and impact of this MoU within the broader context of the textile industry. Representatives from both entities, including Dr. Mohammad Junaebur Rashid, Director of NITER; Dr. Md. Abul Kalam, Convener of CRIR, and Jahangir Alam Siddiki, Corporate HR Head representing Monjarin Zaman (Director of FAL), came together to formally endorse this MoU, marking a pivotal moment in strengthening the collaboration between FAL and NITER. Mohammad Junaebur Rashid emphasized the imperative for a transformative shift not just in curriculum but also in adopting an intelligent educational system, requiring the recruitment of adept educators and infrastructural enhancements. He advocated allocating 3-4% of the budget to the education sector, emphasizing the importance of implementing an age-appropriate salary structure to attract and retain talented professionals in this field.
Over the course of twenty years, Fakir Apparels has demonstrated remarkable and unwavering growth, maintaining an impressive average annual growth rate of approximately 15%. This consistent upward trajectory has been a cornerstone of their success in the textile industry. Central to their operations is a strategic approach centered on a vertically integrated model that encompasses both Knits manufacturing and Woven operations, each housed in distinct units within the same compound. This configuration allows for streamlined processes and optimized efficiencies across their production chain. One of the most striking facets of Fakir Apparels’ success story is their extensive global presence. They have successfully established themselves in over 45 countries, strategically targeting and prioritizing key markets in Europe, North America, the Middle East, and Asia. Their deliberate expansion into these regions underscores a commitment not only to diversifying their clientele but also to catering to the specific demands and preferences of different markets. This expansive footprint in diverse geographical regions not only amplifies their market reach but also emphasizes their adaptability and responsiveness to global market dynamics. Fakir Apparels’ ability to navigate and thrive in multiple international markets speaks volumes about their prowess in meeting varied consumer needs while maintaining high-quality standards in their textile offerings.
