Apparel Online Bangladesh Magazine October Issue 2018 | Page 34

BEYOND BD TO ADVERTISE GOING TO A GOOD EVENT? Contact Rani Mahendru [phone] (512) [email protected] Send your industry gossip, photos and news to [email protected] Sri Lanka sets up six apparel plants to strengthen northern region Over 1,300 new jobs are expected to be coming up in northern region of Sri Lanka from 14 new businesses. The region has much potential and opportunities which has remained untapped due to 30 years old ethnic war which ended in 2009. In spite of the challenges, the Board of Investment (BOI) is ready to invest in the country’s northern region, as this is an effort more than just development. It is a part of the process of strengthening the area and bringing about reconciliation in the country. Currently, 21 existing businesses, being approved (by BOI), employ over 8,754 people. Among these existing businesses are six apparel factories that provide employment to 7,917 workers and represent an investment of Rs. 8 billion. The six apparel plants include Omega Line Ltd., Hirdaramani Fashion (Pvt) Ltd., Hirdaramani Clothing (Pvt.) Ltd., Timex Garments (Pvt.) Ltd., MAS Active (Pvt.) Ltd. and MAS Intimates (Pvt) Ltd. Another 15 projects in different sectors are also operational and represent investments of Rs. 16.3 billion and have employed about 837 workers in the northern region. The BOI mentioned that while two new projects are awaiting commercial operation, five projects are looking forward for implementation, and two have been waiting the signing of agreements. Another five projects are awaiting approval. Indian Textile industry expects 7% growth in exports this year said in a statement issued that, “The imports of T&C (Textiles and Clothing) rose from US $ 1.78 billion in April-June 2017 to US $ 1.87 billion in the same period in the current year. However, an increase of 5 per cent did take place but it is significantly lower than the 16 per cent that was registered in 2017. The Government is taking measures to increase the import duty on several textile and apparel goods which will help in further reducing the imports in coming time.” The Confederation of Indian Textile Industry (CITI) recently cited that India’s apparel and textile sector is on its way towards a turnaround, as the apparel exports are expected to grow 7 per cent in the current year. According to the data released by the Directorate General of Commercial Intelligence and Statistics (DGCI&S), textile and apparel exports increased by 11 per cent last month to Rs. 19,636 crore over the same time period last year, Sanjay Jain, Chairman, CITI elucidated. Notably DGCI&S comes under the Commerce Ministry and is accountable for collection, compilation and dissemination of the nation’s trade statistics and commercial information. Furthermore, the overall growth in exports during April-July this year was noted at 3 per cent as compared to the same time during the previous year. The man-made fibre segment wh