The country needs to increase the export of textile and garments to India as at present the volume and value is insignificant. Proactive measures could further improve Sri Lanka’s annual apparel exports to India which is currently stands at US $ 70 million with a significant scope of growth, Chairman, Apparel Exporters Association of Sri Lanka, Felix A. Fernando said.
Sri Lanka annually imports close to US $ 60 million worth of yarn and US $ 300 million of fabric from India.
The removal of non-tariff barriers and all other loopholes in the Indo-Lanka Free Trade Agreement will also help improve imports and exports between many other sectors in both countries, Fernando said. The Sri Lankan apparel industry currently employs half-a-million Sri Lankans and provides 44 percent of all manufactured goods exported by the country.
India International Textiles Expo-Colombo 2017 organized by PDEXCIL with the support and guidance of the Ministry of Textiles and under the MDA Scheme of Ministry of Commerce, Govt. of India was held in Colombo last week. This was an opportunity to interact the stakeholders of textiles in both country and develop business opportunities on mutual benefit.
Powerloom Development and Export Promotion Council (PDEXCIL) was set up by the Ministry of Textiles, Government of India for the overall development of powerloom industry in the country and promotion of export of powerloom products.
To achieve these objectives PDEXCIL organises various market promotional activities such as organizing seminars, workshops, Buyer Seller Meets, and participating in international exhibition in India and abroad.
Sixteen Indian exhibitors displayed their products in the two-day event. It was an opportunity for our manufacturers/exporters to showcase their products to buyers in Sri Lanka, to interact with them and explore business relations and export opportunities.
This is in line with the Government policy of boosting exports from small and medium manufacturers of India. Exhibitors from various state/clusters of India with their speciality products participated.The earlier event held in Colombo by PDEXCIL was in September 2013 which was success in terms of the numbers who visited it and business relations that was developed.
Last week’s event was also a preparation for a larger scale buyer-seller meet being organized in November this year. - SJ