Home / Knowledge / News / Apparel/Garments / Garment sector must focus on high-end market
Garment sector must focus on high-end market
20
May '10
According to European Union (EU) Ambassador, Bernard Savage, the Sri Lankan garment sector had already made impressive developments for its growth. But to further improve its figures, the country must take advantage of the opportunities available in hand.

Savage explains that, the Sri Lankan garment sector is strong enough to compete in the global market without any specific incentives. More so, EU had handed its support to the industries as it had identified the important role played by the GSP+ scheme in the garment sector. Currently, the Sri Lankan government and EU are in discussions to come to a positive conclusion.

While Savage feels that, the country's apparel sector no more requires the support of the GSP+ scheme, Prof Lakdas Fernando, Chairman, Sri Lanka Apparel Institute, feels otherwise.

Prof Fernando averred that, the garment sector will achieve greater lengths with the support of GSP+ trade benefits, as the country was no longer a low-priced goods producer.

However, Prof Fernando also informed that, with advantages this trade scheme also had its set of disadvantages. He said, with immediate profits, the scheme, in the long run, also had the chances of creating a direct competition for Sri Lankan clothing sector in the global market.

He also informed that, the sector, while taking advantage of this scheme, must not fully depend on it, as the scheme might turn them lethargic.

Similar situation was faced by Sri Lanka in 2004, when the Multi-Fibre Agreement (MFA) had expired. But the industry, after an initial setback, revitalized and restructured itself to face future challenges.

The country's garment sector is custom-made for mass manufacturing wherein, most clothing producers eye the low-key section of the market.

Prof Fernando informs that, since the country is no longer a low-priced manufacturer of apparels, the only way the sector could survive now, was by moving towards the up-market masses, as it was now the key area for the country to focus for its survival.

With an export business of US $3 billion, the clothing sector contributes 10 percent to GDP. It totals for 67 percent of the industry exports and one-third of the industrial employment.

More than 45 percent of Sri Lanka's export proceeds are generated from this industry that, directly provides employment to 270,000 people.

Fibre2Fashion News Desk - India

Must ReadView All

Apparel/Garments | On 27th Mar 2017

Fynd raises $500K Series A funding from Venture Catalysts

Fynd, an online to offline (O2O) e-commerce fashion marketplace, has...

Apparel/Garments | On 27th Mar 2017

Digital technology to accelerate Indian business growth

Indian business will benefit much by going digital, according to a...

Textiles | On 27th Mar 2017

Raymond to buy 98,000 metres khadi fabric from KVIC

Raymond, leading Indian fashion retailer, has ordered 98,000 metres...

Interviews View All

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Ritu Kumar
Label Ritu Kumar

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

Silvia Venturini Fendi
Fendi s.r.l

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

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search