India offers support to Lanka's textile industry

by Tyrell PEIRES

The rich Indian textile industry is geared to cash in on the opportunities available in the Sri Lankan market, according to a leading textile industrialist from India Dr. Mathivanan.

He observed that Sri Lanka was a hub for buyers, with the peaceful atmosphere prevailing after the wiping out of terrorism from the country.

Dr. Mathivanan was Convenor, Export Promotion Panel of the Indian Powerloom and Export Promotion Council which held a three day textile exhibition from November 5-7 at the BMICH.

"There is a big demand for quality home textiles and garments here with Sri Lanka being the nearest country to India, where Tamil Nadu is the major producer of cotton fabrics, we are ready to support our friendly neighbour to further develop its textile industry" he said. His advice to Lankan textile industrialists was to increase production and quality.

"Thus, you will be cost competitive and match international requirements", observed Dr. Mathivanan.The buyer-seller meet in Colombo was jointly sponsored by the Indian High Commission in Sri Lanka, the Indo-Sri Lanka Chamber of Commerce, the SAARC Chamber of Commerce and Ceylon Chamber of Commerce.Dr. Mathivanan said India's main buyer was the USA while it also enjoyed a lucrative market in Europe, Russia, Japan and South Africa.

Trading with Sri Lanka had received a boost with the Sri Lankan Government reducing import duty. An advantage to local buyers was that they could interact directly with Indian manufacturers without employing middlemen.

India was ready to supply whatever requirements for Sri Lanka, he said.