|
|
 |
 |
| Sunday, 10 August 2003 |
 |
|
 |
Business |  |
| News Business Features Editorial
|
Damro continues successful run in Indian market by JAYAMPATHY JAYASINGHE The Indo-Lanka Free Trade Agreement has paved the way for local manufacturers to penetrate the Indian market, which was not previously accessible, Damro Company (Pvt) Ltd Managing Director, Damitha Ramanayake said. He said the biggest setback to the business, which operates in India as well, was transporting workmen from Sri Lanka. "We find it difficult to rush our workmen to India as airlines are packed to capacity these days. Our workmen sometimes have to wait a day or two to get across to India, which is not good for business." He said the additional 20 per cent import duty slapped by the Tamil Nadu state on imported furniture has eaten into the company's profits. This, however, was not the case when the trade pact was signed. The tariff for furniture was reduced by 90 per cent. Damro opened its first furniture showroom and distribution complex in Chennai (Madras) India in 2000. It hopes to open showrooms in 20 Indian states within the next five years. The company already has 26 showrooms locally and abroad. The company was successful in capturing a slice of the South Indian furniture market after the bilateral trade pact was signed three years ago. Indian furniture, Ramanayake said, was quite outmoded, which was one reason for their success in the market. "India does not have many furniture products due to its economy remaining closed for several decades. But things are gradually changing now with the infusion of foreign capital," he said. Damro last month won the award for the Best Furniture Stall at the Zak Interior Exterior Expo Exhibition held in Chennai. This was the second international award it won during the last two years, the first being the 'SURYA ME' award for the Best Imported Furniture for 2001. The Zak Interior Exterior Expo was a success with thousands of people queuing up to see the range of furniture on display. Thirteen other manufacturers from Italy, China, Germany, Malaysia, Thailand and Indonesia competed with Damro. Damro achieved success as an indigenous company manufacturing furniture for both the local and export markets. Ramanayake's success has been attributed to manufacturing low cost products by using 75 per cent indigenous material. Furniture is made from treated rubber wood from the company's estate at Bulathsinhala. Only the accessories are imported. The main factory is located at a 115-acre estate at Nittambuwa. Within the last few years, Damro opened six showrooms in india; three at Chennai and one each at Kovimbuthurai, Kochin and Wijayyawada. |
|
News | Business | Features
| Editorial | Security Produced by Lake House |
