Date: 16th July 2023
The Ministry of Industries recently hosted a crucial meeting of the Advisory Committee in the textile industry, bringing together key stakeholders to address pressing issues and devise strategies for the sector's growth. Held on the 16th of July 2023,Chaired By Mr Hemantha Perera. The meeting focused on the challenges faced by the export industry versus the local textile industry and explored ways to protect and enhance their competitiveness in both domestic and international markets.
One of the major topics of discussion revolved around the urgent need to limit the imports of ready-made garments and boost in-country production. The committee recognized that by reducing reliance on imports and encouraging local manufacturing, the industry could create jobs, stimulate economic growth, and improve self-sufficiency. Strategies were explored to incentivize local production, attract investments, and provide the necessary infrastructure and support to manufacturers.
Another significant point of deliberation was the potential consequences of lifting the suspended tax in the near future. Committee members analyzed the impact of such a move on the industry, considering factors such as market dynamics, pricing competitiveness, and overall sustainability. The aim was to strike a balance that would foster growth while safeguarding the interests of both local producers and exporters.
Promoting the cultivation of cotton in rural areas emerged as a vital aspect of the committee's discussions. Recognizing the importance of a robust and sustainable raw material base, members explored initiatives to encourage cotton farming and support rural communities engaged in its production. The development of efficient supply chains, access to finance, and the introduction of modern farming techniques were among the measures proposed to enhance the cotton sector's growth.
In recognition of their valuable contributions, all committee members were presented with certificates of advisory committee appointment letters by the Secretary. This gesture acknowledged their expertise, dedication, and commitment to advancing the textile industry and ensuring its long-term success.
The Advisory Committee meeting served as a platform for open and constructive dialogue, allowing stakeholders to exchange ideas, share perspectives, and collectively work towards overcoming challenges faced by the textile industry. By fostering collaboration between the government, industry players, and relevant stakeholders, this meeting set the stage for the formulation of effective policies and initiatives aimed at strengthening the local textile industry, exploring overseas markets, and creating a vibrant and sustainable ecosystem for all participants.
As the industry continues to evolve and confront new challenges, the Advisory Committee remains committed to driving innovation, promoting growth, and charting a path towards a prosperous future for the textile industry in our nation.
