Home / Knowledge / News / Apparel/Garments / AP manufacturing resources attract Sri Lankan apparel firm
AP manufacturing resources attract Sri Lankan apparel firm
16
Jan '12
“The third wave of Indian investment followed the Indo-Lanka FTA and the developments in the air traffic and relaxation of visas for Indian nationals. The cumulative Indian investment in Sri Lanka, which stood around mere 24 million US dollars in 2000, has increased to a staggering 600 million dollars by 2011. “

“Today, India ranks within the top 05 foreign investors in Sri Lanka. Several Indian companies such as Indian oil, Bharti Airtel, ICICI bank, Asian paints, Ashok Leyland, etc., have immensely benefited by investing in Sri Lanka. Meanwhile, companies such as Taj Hotels and CEAT have become household brands among the Sri Lankan people. Indian investors have also been enjoying the benefits of the constitutional guarantee of investments, duty-free market access under the ISFTA, Double Taxation and Investment protection treaties.”

“The conquest of Indian investors further triggered during recent past, when major firms such as Primal glass, Fortis Healthcare, Mphasis, TATA communication, First Source IT, Dabur consumer products, Axis Bank etc., expanded their operations into the island. Both Sri Lanka and India have been recording an impressive performance on the tourism front as well. As many as 250,000 Sri Lankans had visited India during the year 2010, while India topped the list of tourist arrivals in Sri Lanka in the same year. India continued to be at the top in 2011 as well recording 138,000 tourist arrivals from Jan. – Oct. 2011.”

This registers a spectacular growth of 45% in comparison to the same period in 2010. Sri Lankans increasingly tend to see India as one of the most sought-after destinations for medical treatments and shopping. Indian cities and Colombo have become an ever expanding air routes in facilitating swift movements towards each direction. Every week, there are over 100 flights between Colombo and Indian cities.”

“Thanks to the visionary and dynamic political leadership of President Mahinda Rajapaksa and our brave armed forces, Sri Lanka today is a highly stable and peaceful country. The dawn of peace has given a new lease of life and hope to all communities in Sri Lanka. Sri Lanka has now reached a high growth phase, both economically and socially” Minister Bathiudeen added.

The Sri Lankan private sector reps in the business delegation were upbeat on the outcome of their visit to Andra Pradesh (AP). Andra Predesh Chief Minister N Kirankumar Reddy said that Andra Pradesh will gladly continue to support Sri Lankan firms entering his State. “You have our fullest support” he said. Sources from the Summit revealed that MAS Holdings, another Sri Lankan apparel giant is also now looking to setup manufacturing facility in AP to resources on the labour and other manufacturing resources that AP offers, to Sri Lankan apparel industry.

Click here to read more details:

Ministry of Industry & Commerce, Sri Lanka


Must ReadView All

Courtesy: Kai Pilger from Pexels

Textiles | On 24th Apr 2018

Pakistan’s textile exports up 7.77% in July-March FY18

The value of textile and garment exports from Pakistan increased by...

Alliance to form joint entity for safety in factories

Apparel/Garments | On 24th Apr 2018

Alliance to form joint entity for safety in factories

On the 5th anniversary of the Rana Plaza Collapse, The Alliance for...

China’s Alibaba partners with Thailand for digital trade

Textiles | On 24th Apr 2018

China’s Alibaba partners with Thailand for digital trade

China’s Alibaba Group recently signed an agreement with the Thai...

Interviews View All

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search