Wednesday Dec 25, 2024
Wednesday Dec 25, 2024
Wednesday, 3 April 2013 00:00 - - {{hitsCtrl.values.hits}}
Furthering its efforts to revive distinctive local industries of Sri Lanka, NDB recently initiated a special development program aimed at rebuilding the defunct handloom textile industry. The pilot project of a long term development program was launched in the Kuleegama village, Divulapititya of the Gampaha District which has once been renowned for its handloom products.
NDB joined hands with the Department of Textile Industry and the Divisional Secretariat of Divulapitiya to support the skilled weavers in the village who have been away from the industry since 2002, to resume manufacturing. The initial meeting organised by NDB with the participation of representatives of the department of Textile and the Divisional Secretariat official was attended by over 30 manufacturers.
Accordingly, NDB will meet the capital expenditure for the initial set up of enterprises including purchase of weaving machines, raw material, etc., and also fill working capital gaps at the latter stages of production.
The bank together with the Department of Textiles will be committed to provide continuous guidance and training on enterprise management, marketing and distribution as well as technical skills development in order to equip the manufacturers with the necessary business and technical know-how.
The Department of Textile will also share technical advice for the weavers, enabling them to produce contemporary products that are better-suited for the modern market place. In a bid to encourage the younger generation in the area to take up the profession, a handloom manufacturing training centre will be set up in the village which will be administered under the guidance of the department. The project will be backed by the Ministry of Industry and Commerce, which has undertaken the task of creating demand for the products with buy back arrangement and by directing private sector buyers to the manufactures.
Commenting on the initiative, Raj Aboobucker Vice President and Head of Retail and SME Banking of NDB stated: “Reviving the waning traditional industries in the country and creating better market/ export opportunities for such entrepreneurs is a priority focus in NDB’s agenda for SME development. NDB’s initiative for handloom textiles in Kuleegama and the earlier initiative for the mask industry in Ambalangoda are first steps of long-term, blown out programs that aim to reinforce identified traditional industries. Our view is that widening market access and reawakening interest in such products within the marketplace will help develop their export potential. We strongly believe that this can contribute vastly to the anticipated economic boom in the country.”
“The handloom industry is a unique heritage of Sri Lanka and has been deteriorating over time. We realised that the lack of financial support and technical, industrial know-how have been main causes for the downfall of the industry. Hence in collaboration with the Department of Textile, Ministry of Industry and Commerce as well as the Divisional Secretariat of Divulapitiya we hope to begin the restoration of the handloom industry from the Kuleegama village with a vision to make it a self-reliant, thriving industry in the country, while encouraging the younger generation to take up the profession by bridging gaps across the industry and academia. There is a growing demand for authenticity around the globe today and environmentally responsible products such as handloom textiles are becoming increasingly popular. Thus we reckoned that as a Bank committed for national development and a precursor in SME development of Sri Lanka; it was upon us to take initiative to revive this industry and make it more competitive in the current market place.”
“I wish to take this opportunity to invite local entrepreneurs to take advantage of NDB’s gamut of financial and advisory services designed to empower them to take on the emerging opportunities of the new Sri Lanka,” Aboobucker reiterated.
