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| Sunday, 29 May 2005 |
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| News Business Features Editorial
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FAAMA to protect interests of local manufacturers The Fabric and Apparel Accessory Manufacturers Association (FAAMA) Chairman Jeyam Perumal, said the importance of backward integration to the apparel industry is phenomenal in that it is the backbone of the industry; hence we decided to form an association of fabric and apparel accessory manufacturers as the absence of such an association was long felt by us whose lifeblood is the apparel industry, which contributes more than 50% of the country's export earnings". In fact FAAMA members' contribution towards the industry is over US $300 million annually. Perumal said the sustenance of the apparel industry was largely dependent on the quality maintained and the success and profitability of its accessory producers. 'In a highly competitive environment which increased ten-fold with the abolition of the MFA, the need of the hour was to produce all the requirements of the garment industry literally in our own backyard and it was in this context that FAAMA came into being". Perumal said that FAAMA was gearing themselves to cater to the entire requirements of the industry and that this should become a reality in the next two years if all goes well. |
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