Home / Knowledge / News / Apparel/Garments / Sri Lanka on way to achieve $10bn apparel export by 2016
Sri Lanka on way to achieve $10bn apparel export by 2016
02
Apr '14
The island country of Sri Lanka is on its way to achieve the apparel export target of US$ 10 billion by 2016, set by President Mahinda Rajapaksa, Minister of Industry and Commerce Rishad Bathiudeen has said.
 
Speaking at an event at the Sri Lanka Institute of Textile and Apparel (SLITA) in Ratmalana, the Minister said the country’s apparel sector has showed strong performance earning revenues of $4.3 billion in 2013, and Sri Lanka is now paving way for bigger apparel dreams, ft.lk reported.
 
President Rajapaksa wants to see the country among the top ten garment exporting nations of the world by 2020, the Minister informed.
 
He said that in 2013, Sri Lankan apparel sector entered the G4 manufacturing levels for the first time, in collaboration with PVH Corporation. 
 
In G3 level, foreign retail teams reach out to engage with Sri Lankan suppliers who are global multi-country manufacturers, while in G4, supplier teams of Sri Lankan multi-country manufacturers reach up to engage with foreign retailers.
 
SLITA, which operates under the Ministry of Industry and Commerce, offers training, testing, consultancy and technical services. The testing lab at SLITA is internationally accredited and is certified with ISO 17025 and 9001 standards, the Minister said.
 
Mr. Bathiudeen thanked the President for providing triple deductions in the last budget for research and innovation carried out within apparel businesses, which has encouraged strong performance of the sector.
 
Textiles and garment exports from Sri Lanka grew by 23.4 percent to $ 412 million in January 2014, compared to exports of $333.9 million made during the same month last year, according to the data from the Central Bank of Sri Lanka.
 

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Mitsubishi chemical

Textiles | On 29th Jul 2016

Mitsubishi Chemical to offload PTA units in China, India

Japanese petrochemicals major Mitsubishi Chemical Holdings has...

Apparel/Garments | On 29th Jul 2016

Sales soar 28% at protective gear maker Under Armour in Q2

With net revenues of $1.0 billion in the second quarter ended June...

Textiles | On 29th Jul 2016

Fulgar launches new fibre Q-Nova Melange Recycled

Italian company Fulgar has launched Q-Nova Melange Recycled, a fibre...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Kevin Nelson
TissueGen

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Bani Batra

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

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
June 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search