Rehan Lakhany, Chairman of the Sri Lankan Apparel Exporters Association, said key stakeholders in the Sri Lankan apparel industry are in discussions with the government to create a specialized manufacturing area in the apparel industry.
Noting that Sri Lankan exporters have now entered the stability era despite various difficulties encountered by the sector, such as trade disruptions in the national sector, the abolition of quota systems and, most importantly, the latest Easter incident, he expressed trust that by 2025 the sector will be able to accomplish effectively US$ 8 billion set target income from clothing exports.
“As a significant aspect of our supply chain, we have always looked at Indian fabric providers. Our clients are now seeking reliable, quality and innovative products from Sri Lanka. Sri Lanka is also gaining a reputation as a worldwide high-quality clothing company primarily owing to its strategic maritime place and its capacity to supply and fast-track exports of clothing, “he said at the Galadari Hotel, Colombo, inaugurating the 3rd edition of Indian International Textiles Expo–Colombo 2019 (IITExpo).
The event is hosted by the Development and Export Promotion Council of Power Loom (PDEXCIL), India. Speaking at the case, Sri Lankan Chairman Sharad Amalean, Joint Apparel Association Forum, said, “Recent unfortunate events in the nation have had no important effect on our sector.
In spite of the reality that many other sectors such as building and tourism are facing various hardships when it comes to continuing their company after the Easter Sunday case, I would say that the clothing and fabric sector is the least impacted sector.
He also stressed the need to find creative methods to make it easier for Sri Lanka and India to do company.
Speaking at the case, Petroleum Resources Development Deputy Minister Dr. Anoma Gamage stressed the need to develop an atmosphere in which all people have the chance to obtain a greater revenue and a better living standard in the nation. She also said that structural transformations are ongoing that are essential for these modifications in order to gain better outcomes. In addition, she said the government took the needed measures to develop the industrial sector.
“With these proactive policies, we expect Sri Lanka to have a thriving industrial sector, expanding over the coming years at a pace of more than 15 percent per annum.
The nation will also become a preferred destination for international investors who are planning to invest in Sri Lanka’s manufacturing industry, “said Minister Gamage.
Sri Lanka is one of the biggest SAARC trading partners in India. India, in turn, is one of the major trading partners in Sri Lanka worldwide. Fabrics are one of the most important items exported to Sri Lanka from India. Sri Lanka is one of India’s top ten cotton fabric export nations. Exports from India to Sri Lanka of significant textile commodities exceeded US$ 600 million.