India International Textiles Expo launched in Sri Lanka to promote textile industry in India and Sri Lanka
As a step in the effort of Sri Lanka and India moving towards innovating and growing together in the textile industry, India International Textiles Expo (IITExpo) – Colombo 2018-Exhibition cum Buyer Seller Meet organized by the Powerloom Development and Export Promotion Council (PDEXCIL) of India was inaugurated at Hotel Galadari yesterday.
Issuing a media statement, the Indian High Commission noted that the three-day event is organized by PDEXCIL with the support of Ministry of Textiles and Ministry of Commerce and Industry, Government of India.
The Chief Guest at the inauguration ceremony was Dr. Sarath Amunugama, Minister of Special Assignments of Sri Lanka, Anoma Gamage, Deputy Minister of Petroleum Resources Development of Sri Lanka, Arindam Bagchi, Acting High Commissioner of India, Felix Fernanado, Chairman, Sri Lanka Apparel Export Association and Purushottam Vanga, Chairman, PDEXCIL were also present.
Dr. Amunugama has noted the stellar contribution of textile sector to Sri Lanka’s economy.
The Minister has mentioned about the upswing in the sector in the post conflict period, and noted that there are huge opportunities especially considering the regaining of GSP plus status from the EU.
He has cited the rich textile traditions in both India and Sri Lanka, and said that Sri Lanka sourcing of textile material from India, and transforming it into apparel and garments for rest of the world, could lead to win-win situation for both the countries.
Meanwhile, Arindam Bagchi, Acting High Commissioner of India has noted that India would encourage Sri Lankan companies to be part of the supply and value chains of large Indian companies.
He has stated that apart from traditional fabrics, there is a niche market for products such as banana and bamboo fibres, organic dyes; Sugandha Vastra (Ayurvedic Spice Dyed Garments) etc.
According to Bagchi, Sri Lanka and India should be to innovate and grow together.
He has also urged Sri Lanka to make use of fully-funded training opportunities in India, under Indian Technical and Economic Cooperation (ITEC) programme, in which a number of slots is earmarked for textile related subjects.
At the event, about 45 exhibitors from various textile clusters of India are displaying variety of fabrics (woven, knitted and non- woven), made-ups, home textiles, traditional items etc.), in various blends, texture, colour designs etc., suitable for apparel, industrial, technical application and general consumers. This would be a unique opportunity to see the products of reputed Indian textile companies under one roof.
OSL take:
The ongoing textile exhibition is yet another event that portrays the continuous growth in trade relations between Sri Lanka and India. The statements by the Sri Lankan Minister and the Acting Indian High Commissioner show the potential for joint ventures between Sri Lanka and India in the textile industry. Foreign investors could use this opportunity to engage in the textile industry in Sri Lanka and India using Sri Lanka as the base for business.
| Article Code : | VBS/AT/20180223/Z_3 |