Key stakeholders of the Sri Lankan apparel industry are in discussion with the government to establish a dedicated zone for manufactures in the apparel industry, Chairman of Sri Lanka Apparel Exporters Association Rehan Lakhany said.
Noting that Sri Lankan exporters have now stepped into the era of stabilization despite numerous challenges faced by the industry, such as trade disruptions in the domestic market, abolishment of quota systems and most importantly the recent Easter event, he expressed confidence that the industry will be able to successfully achieve US $ 8 billion set revenue target from apparel exports by 2025.
“We’ve always been looking at Indian fabric suppliers as an important part of our supply chain. Our customers are now looking at Sri Lanka for reliable, quality and innovative products. Sri Lanka is also gaining reputation as a high quality garment manufacturer in the world mainly due to its strategic maritime location and also its ability to supply and fast track apparel exports,” he told the inauguration of the 3rd edition of Indian International Textiles Expo– Colombo 2019 (IITExpo) at the Galadari Hotel, Colombo.
The event is organized by the Power loom Development and Export Promotion Council (PDEXCIL), India.
Speaking at the event, Joint Apparel Association Forum Sri Lanka Chairman Sharad Amalean, said, “Recent unfortunate events which took place in the country didn’t have any significant impact on our industry.
I would say the apparel and textile industry is the least affected industry despite the fact many other industries such as construction and tourism are facing numerous hardships when it comes to continuing their business activities following the Easter Sunday event.
Speaking further, he also stressed the need to find innovative ways of improving ease of doing business between Sri Lanka and India.
Speaking at the event, Deputy Minister of Petroleum Resources Development Dr. Anoma Gamage stressed the need to create an environment where all citizens have the opportunity to achieve a higher income and a better standard of living in the country. She further said that structural transformations, necessary for these changes are underway to better garner more results. Furthermore, she said the government has taken necessary steps to develop the industrial sector.
“With these proactive measures, we expect that Sri Lanka will have a flourishing industrial sector, growing at a rate of more than 15% per annum in the coming years.
The country will also become a preferred destination for foreign investors those who intends to invest in the industrial sector in Sri Lanka,” Minister Gamage said.
Sri Lanka is one of India’s largest trading partners in SAARC. India in turn is one of the Sri Lanka’s leading trading partners globally. Fabrics are among the major item exported from India to Sri Lanka. Sri Lanka is among the top ten countries for export of cotton fabrics from India. Export of major textile commodities from India to Sri Lanka stood over US $ 600 million.
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