Industrial sector should target $ 20b export revenue by 2020

by Mohammed Naalir

The industrial sector should be more strategic and viable to achieve the $20 billion export revenue target by 2020, Industries and Commerce Minister Rishad Badiudeen said. He was speaking at a ceremony to launch the “SME INOX 2013” organised by the Federation of Chamber of Commerce and Industry of Sri Lanka (FCCISL), in Colombo from October 11 - 13.

He said that according to the industrial production index of 2012 textile, paper and capital and fabricated metal products recorded a 10 percent growth in 2012 while the overall industry growth was 10.3 percent. Badiudeen said the growth rate of industries was 6.5 percent, factory industries 5.2 percent and cottage industries 4.6 percent in the same year.