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India offers to modernise Sri Lanka’s closed textile mills Vote_lcap68%India offers to modernise Sri Lanka’s closed textile mills Vote_rcap 68% [ 178 ]
India offers to modernise Sri Lanka’s closed textile mills Vote_lcap18%India offers to modernise Sri Lanka’s closed textile mills Vote_rcap 18% [ 47 ]
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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » India offers to modernise Sri Lanka’s closed textile mills

India offers to modernise Sri Lanka’s closed textile mills

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Malika1990

Malika1990
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
August 04, 2012 (LBO) – India has offered to modernise some of Sri Lanka’s closed textile mills, during bilateral talks with visiting Indian Commerce minister, a report said.

“Sri Lanka imports yarn and fabric from India. We feel that cooperation in the textiles sector is very important from the perspective of both the countries,” Commerce Minister Anand Sharma told Colombo-based Indian journalists, the Hindu newspaper reported on Saturday.
Sharma, who arrived in Colombo on Thursday for the three-day India Show trade fair, said the suggestion of reviving textile mills came during discussion with Sri Lanka’s Economic Development Minister Basil Rajapakse.

India had also pledge to set-up manufacturing plants for apparel and textile sectors, Sharma said.

An Indian delegation of leading textile industrialists are due in Colombo early September, to engage with both officials and captains of industry here.

Sharma, is leading a delegation of over 200 Indian businessmen, who are scouting for business in Sri Lanka. Some 108 Indian firms are currently displaying their goods and services at the trade fair in Colombo.
Sharma on Friday said a joint taskforce is being set-up to establish an export manufacturing zone in Trincomalee, Sri Lanka’s east.

He said Indian Commerce Secretary S R Rao will visit Colombo to hold talks with the Treasury Secretary on modalities.

A delegation of pharmaceutical industry, Pharmexcil, will visit Sri Lanka from August 14-16, to explore steps required to set up a pharmaceutical hub.

The taskforce will have the mandate to set-up the special zone for auto-components and engineering goods, and the pharmaceutical hub.
http://www.lbo.lk/fullstory.php?nid=1142818165

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