Global Apparel Market – An Overview | Watch NOW! | Ad
Home / Knowledge / News / Textiles / Sri Lanka to become regional apparel sourcing hub
Sri Lanka to become regional apparel sourcing hub
May '07
Other companies that have already made firm commitments to the park include Fountain Set (Hong Kong), Pioneer Elastics (Hong Kong), Brandix Finishing (Sri Lanka), Quantum Clothing (UK), CMT (Mauritius) and Brandot (US). Customer commitments to date include Victoria Secret, Gap, H&M, Hanes, Decathlon, and Marks & Spencer.

MAS holdings signed an agreement with the Indian government in January this year, to set up a 750 acre textile Industrial zone in the Nellore District of Andhra Pradesh, with an investment of US$ 200 Million. MAS holdings expect to export around US$ 400 million worth of fabrics within the next five years.

MAS has been producing Apparel in India since the early 1990's and they are now in the process of creating their own intimate apparel brand for the Indian market, and will be launched in August this year in Bangalore.

Investors in the Sri Lankan owned textile parks can enjoy duty free status; 100% foreign direct investment with full and free repatriation of export proceeds and dividends; duty, tax and cess free procurement from domestic tariff areas, service tax exemption. Income tax benefits include exemption for the first 0-5 years, 50% from 6-10 years, and a further 50% during years 11-15 based on reinvestment of profits.

India produces 3% of the world's textiles, is the second largest producer and consumer of cotton, has the second biggest spinning capacity, accounts for around 12% of textile fiber and yarn produced globally.

35 million are employed in India's apparel industry, which accounted for around 15% of all industrial production and around 30% of all exports (US $17 billion). The country plans to increase exports to US $50 billion by 2010 with apparel accounting for half of all exports.

Fibre2fashion News Desk - Sri Lanka

Must ReadView All

Trump signs revised free trade agreement with S Korea

Textiles | On 25th Sep 2018

Trump signs revised free trade agreement with S Korea

President Donald Trump signed a revised free trade agreement with...

'India can take up lack of capacity in US, China markets'

Textiles | On 25th Sep 2018

'India can take up lack of capacity in US, China markets'

India can now take up the lack of capacity in the US and Chinese...

Indonesian textile industry targets exports of $14 bn

Apparel/Garments | On 25th Sep 2018

Indonesian textile industry targets exports of $14 bn

With a January-July 2018 exports figure of $7.74 billion, the...

Interviews View All

Angelina Francesca Cheang, MY ANJE

Angelina Francesca Cheang

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Rahuul Jashnani, Jashn

Rahuul Jashnani

‘Online economy has changed the whole dynamics of buying habits.’

Shiladitya K Joshi, Truetzschler India Private Limited

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Suresh P Bagrecha,

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Liz Manning,

Liz Manning

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

Hardik Sanghvi,

Hardik Sanghvi

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

Iago Castro Asensio, RCfil Distribuciones S.L.

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Ray Baughman, University of Texas -Dallas

Ray Baughman
University of Texas -Dallas

<div>A team of scientists and researchers have discovered twistrons,...

Suresh Patel, Sidwin Fabric

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Karan Arora, Karan Arora

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Igor Chapurin, Chapurin

Igor Chapurin

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

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

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

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on

Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

October 2018

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

news category

Related Categories:

Advanced Search