Sept 11, Colombo: India International Fabric Expo (IIFE-2013) held in Colombo during 08th - 10th of September has drawn over 1,900 leading garment manufacturers, whole-sellers, institutional buyers of Sri Lanka, India's Ministry of Textiles reported.
The mega event held at Hotel Galadari in Colombo was organized by the Powerloom Development & Export Promotion Council (PDEXCIL) of India with the support of Indian Ministry of Textiles and Ministry of Commerce & Industry and the Indian High Commission in Colombo.
Sri Lanka's Minister of Economic Development Basil Rajapaksa was the chief guest at the formal inauguration of the "IIEF-2013" held on Monday (September 09).
During the inaugural function, a Memorandum of Understanding (MoU) between both the Governments was signed through its concerned secretaries, on cooperation in the development of SMEs in handloom, power loom and textiles and promotion of trade.
At the event Fabrics and made-ups of all fibers base have been displayed by the 53 leading manufacturers from all parts of India.
During the event, a grand fashion show, sponsored by the exhibitors of the event, was also held on 9th September at the venue of the exhibition.
The PDEXCIL delegation has met the Secretary to the Ministry of Industry and Commerce, Anura Siriwardena Tuesday and discussed the issues regarding promotion of trade and joint ventures between the businessmen of the two countries. Taxation issues and quota on garment export from Sri Lanka to India were also discussed during this meeting.
The Secretary has promised for extending all kinds of support to the businessmen from his office and informed the delegation that within one month he will again invite the quality fabrics manufacturers of PDEXCIL to Sri Lanka to have direct interaction with the garment manufacturers so that they may source out their fabrics requirement from PDEXCIL under their duty free scheme.
Over 1,900 leading garment manufacturers, whole-sellers, institutional buyers of Sri Lanka attended the event by noon Wednesday, India's Ministry of Textiles said.
According to the Indian Ministry, exhibitors have reported committed and future business worth US$ 21 million and it is expected to reach business deals up to about US$ 30 -35 million by the end of the event.
The Expo was aimed at exploring the possibility of Joint Venture in manufacturing and marketing and creating long term prospective business relationship as well as promoting Brand India Image.
Most of the exhibitors have also postponed their trip after September 11th since they have been invited by the Sri Lankan garment manufacturers to their units for finalizing the MoU for supply of the fabrics.
The event has evoked tremendous response among the textile trade and importers of Sri Lanka and has given a very positive impact of the quality and versatility of Indian textiles because first time such type of Indian fabrics show on grand scale has been organized in Colombo, Sri Lanka, the Indian Ministry said.