Home / Knowledge / News / Apparel/Garments / Sri Lankan apparel sector can earn US$1bn more by 2016
Sri Lankan apparel sector can earn US$1bn more by 2016
22
Jan '13
Adoption of the new multi-country consolidation business approach is expected to help the Sri Lankan apparel industry to boost its revenues by US$ 1 billion by 2016, Joint Apparel Association Forum (JAAF) Secretary General MP Tuli Cooray told Sunday Observer Business. 
 
There are no doubts that the new business model, resembling the one that is already prevalent in Singapore and Hong Kong, would help the Sri Lankan apparel industry, he said and urged the Government to create a legal framework similar to that exists in Hong Kong.
 
Noting that the Sri Lankan apparel industry is recognized globally as a reliable supplier of quality goods, he said they would channelize their own strength and that of the region to carry out the work of the apparel hub.
 
The Government could help by extending technological, designing and front operations support to cater to the orders.
 
Huge investments coupled with the Government’s ongoing efforts to cut transactional costs, and promotional activities in traditional and newly emerging markets have kept fuelling the industry’s growth over the past few years, Mr. Cooray said. 
 
He said they are continuously enhancing promotional activities in traditional markets, and efforts would be made to expand market share in India, Japan, Russia and China. 
 
He urged the Sri Lankan Government to ink bilateral trade agreements with other countries and implement strategies to enhance the industry standards in order to help the industry to grow to next level.
 
The JAAF official said technological investment and use of latest manufacturing processes involving lesser human interference have facilitated advancement of the industry.
 
The Sri Lankan clothing industry made US$ 3.8 billion in revenues during last year and Mr. Cooray was hopeful that the sector would touch US$ 5 billion mark by 2016.
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 22nd May 2017

GST to be biggest achievement of Modi govt: ASSOCHAM

Goods and Services Tax (GST) which is near a roll-out would be the...

Textiles | On 22nd May 2017

Maintaining NAFTA benefits is crucial: Cotton council

The US must remain a participant in a vibrant North American Free...

Apparel/Garments | On 22nd May 2017

Retailers ask Congress not to go for consumption tax

The National Retail Federation has asked US Congress to focus on...

Interviews View All

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Silke Brand-Kirsch
Schlegel und Partner

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

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Yash P. Kotak
Bombay Hemp Company

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

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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