Connect with us

Business

Promoting inclusivity and sustainability across Sri Lanka’s textile and apparel sector

Published

on

Improving Transparency for Sustainable Business (ITSB)- a transformative initiative for the Textile and Apparel Sector, jointly led by the Global Reporting Initiative (GRI), the Sustainable Development Council (SDC), and the Joint Apparel Association Forum (JAAF) in Sri Lanka with support from the Swedish Government was launched virtually on 29th April 2025.

In 2024, Sri Lanka’s apparel sector generated $5.05 billion in export revenue, reaffirming its position as a key driver of the national economy. The sector is now targeting US$8 billion in export earnings for 2025, a significant increase from the previous year. Contributing 42.01% of the country’s total export revenue, the sector plays a critical role in sustaining foreign exchange earnings. The industry also supports around 350,000 direct jobs, making it a vital source of employment, particularly for women in rural areas. Despite the economic impact, the fashion industry is also one of the largest polluters and has come under increasing scrutiny. More than 75% of clothes and other textiles end their life being incinerated or landfilled.

Looking ahead, Sri Lanka is strategically focused on expanding its global market share in apparel exports and driving industrial growth, underscoring the sector’s importance to the country’s economic development. However, the path forward is not without challenges, as the sector must build resilience to face various external as well as internal challenges such as trade barriers and tariffs, compliance with higher social and environmental safeguards, overreliance on a few export markets, currency fluctuations, high production costs, outmigration of labor from the sector etc.

As the apparel and textile sector remains the country’s largest contributor to export revenue, the ITSB initiative aims to enhance environmental and social transparency across the industry, ensuring long-term resilience, profitability, and global leadership of the sector.

The launch webinar marked the beginning of a series of capacity-building initiatives aimed at strengthening impact measurement and reporting of industry stakeholders on sector-relevant topics such as climate change, circularity, waste, and biodiversity, while also enhancing transparency on labor, economic, and tax-related impacts to unlock the true potential of ESG data. As part of its rollout, the ITSB initiative will include targeted capacity-building sessions for 100 apparel and textile companies, encompassing both Multinational Enterprises (MNEs) and Small and Medium Enterprises (SMEs).With global markets increasingly demanding traceable, eco-conscious products, Sri Lanka’s commitment to sustainability through ITSB is poised to bolster the country’s reputation as a responsible apparel manufacturing hub.

The event featured presentations and speeches by the key personals representing the GRI, SDC, JAAF etc emphasizing the need for sustainability and traceability in the apparel sector, particularly in the face of global environmental challenges and shifting consumer expectations.

The Director General of SDC, Ms. Chamindry Saparamadu, delivered a presentation on SDCs approach to promoting inclusive and sustainable businesses to achieve the Sustainable Development Goals (SDGs) in Sri Lanka focused on targeted capacity-building activities and the potential benefits for apparel sector in transitioning towards inclusive and sustainable apparel given the significant market opportunities for sustainable apparel. The global market for sustainable textiles is evolving to reach nearly USD 69.5 Billion by 2030; sustainable fashion creates business opportunities in ethical sourcing, circular design, innovative materials, education, technology integration and compliance.

Speaking at the event, Yohan Lawrence, Secretary General of JAAF presented an overview of Sri Lanka’s apparel industry, the current reporting frameworks adopted in the sector, existing challenges, and the importance of ESG reporting.

Dr. Aditi Haldar, Director of GRI South Asia, introduced GRI and the ITSB program, which has prioritized only three countries in South Asia: Sri Lanka, India, and Bangladesh, with the aim of promoting sustainability, improving labor conditions in the supply chain, and leveraging economic impact for better social outcomes.

Delivering the closing remarks, Sumith Siriwardana, Assistant General Manager–Group ESG, Courtaulds Trading Company, emphasized that the partnership between GRI, SDC, and JAAF exemplifies how multi-stakeholder collaboration can drive meaningful change—aligning Sri Lanka’s textile sector with global sustainability standards while promoting inclusive growth.

The event was attended by more than 100 participants representing MNEs, SMEs, Informal Worker Associations, Industry Associations, Regulators and Policymakers, and International Stakeholders and other Data Users.



Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Needs of populace hit by Cyclone Ditwah seen as waiting to be addressed

Published

on

Lionel Bopage: ‘Recovery painfully slow.’

By Hiran H. Senewiratne

The government is yet to address fully the needs of the Cyclone Ditwah affected populace though one year has elapsed. The devastation cost the country more than US $ 4.1 billion, an Australia-based Chartered Engineer of Sri Lankan origin said.

‘Cyclone Ditwah affected more than 2.2 million people in 25 districts, which is considered to be one tenth of the population. However, only 39 percent of the allocated funds have been spent to date, the speaker, a one-time General Secretary of the JVP, now living in Australia Lionel Bopage said.

He made these comments at a Rotary Club Colombo South monthly meeting held at the Kingsbury Hotel, Colombo recently.

Bopage quoted from a Loughborough University research report published in February to the effect that Sri Lanka has under invested in prevention but over invested in recovery.

Bopage added: ‘The largest single economic category affected were not buildings but the agriculture sector which provides livelihoods for the majority of affected persons. Therefore agricultural livelihoods have been hit most.

‘More than 58,000 hectares of paddy lands were flooded in the Eastern districts alone, while 46 reservoirs reached critical spill level or failed outright following the disaster.

‘A rapid education sector assessment found that 1,682 schools were affected and more than 555,000 children were unable to attend schools. Further, 622 water supply schemes had been left non-functional and apart from that 11300 homes were damaged or destroyed. But reconstruction is happening at a very slow pace.

‘Tens of thousands of households in the hill country and in the East are still living in damaged properties and on unstable slopes drawing water from schemes that have not been restored.

‘ A Post Disaster Needs Assessment put the cost of resilience at US$ 3.4 billion but restoration work is happening at a slow pace even with foreign donor assistance.’

Continue Reading

Business

WB forecast buoys bourse but weak investor participation slows momentum

Published

on

By Hiran H. Senewiratne

The CSE yesterday kicked off on a positive note due to a World Bank forecast that Sri Lanka could achieve 4.4 percent economic growth this year but later lost momentum due to weak investor participation.

Amid those developments both indices moved upwards. The All Share Price Index went up by 132 points while S and P SL20 rose by 21.02 points.

Turnover stood at Rs 1.97 billion with three crossings. Those crossings were; Lanka IOC 2.7 million shares crossed to the tune of Rs 470 million; its shares traded at Rs 127, CCS 2.7 million shares crossed to the tune of Rs 315 million; its shares sold at Rs 118 and JKH five million shares crossed for Rs 91.5 million; its shares traded at Rs 18.30.

In the retail market companies that mainly contributed to the turnover were; Commercial Credit and Finance Rs 126 million (1.3 million shares traded), Lanka IOC Rs 98 million (775,000 shares traded), Asiri Surgical Hospitals Rs 77 million (7.6 million shares traded), Commercial Bank Rs 51.3 million (307,000 shares traded), Sampath Bank Rs 46 million (325,000 shares traded), HNB Rs 37 million (98000 shares traded) and Tokyo Cement Rs 31 million (393,000 shares traded). During the day 50 million share volumes changed hands in 14547 transactions.

It is said that the petroleum sector performed well, especially Lanka IOC, while in the banking sector counters, especially Commercial Bank and Sampath Bank performed well. In the manufacturing sector, JKH impressed.

TAL Lanka Hotels announced that it has scheduled an Extraordinary General Meeting on October 29 to obtain shareholder approval for a proposed Rs 1.87 billion rights issue. The proceeds will be utilized for the repayment of bank borrowings, part refurbishment of the Taj Samudra Hotel in Colombo, settlement of vendor liabilities, and general corporate requirements.

Yesterday the rupee was quoted at Rs 330.95/331.05 to the US dollar in the spot market, weaker from Rs 330.85/95 the previous day, while bond yields were quoted broadly steady, dealers said.

Continue Reading

Business

Huawei continues to showcase practical AI applications at Sri Lanka AI Week 2026

Published

on

Sri Lanka AI Week 2026 continued into its second day bringing together government, industry, academia and technology partners to explore practical applications of artificial intelligence. As the AI Technology Partner for the second consecutive year, Huawei showcased 18 use cases spanning government, education, finance, industry, green energy and everyday life, demonstrating how AI can be applied to real-world needs.

Prime Minister Dr. Harini Amarasuriya visited the Huawei exhibition together with officials from the Ministry of Education, Higher Education and Vocational Education, experiencing the Smart Classroom, AI in Education and MindGraph by Beijing Normal University demonstrations. The Smart Classroom demostration highlighted how connected technologies can bring teachers and students in different locations into a shared learning environment, while the AI in Education showcase demonstrated how AI can support teachers, enhance learning and enable more personalised education. The Prime Minister praised the efforts of the Ministry of Education, Higher Education and Vocational Education, Huawei and their partners to demonstrate practical applications of AI in education, noting the role of technology in supporting teachers, expanding learning opportunities, and advancing a more inclusive, equitable and future-ready education system.

Later in the day, Deputy Minister of Digital Economy Eng. Eranga Weeraratne, Deputy Minister of Industry and Entrepreneurship Development Chathuranga Abeysinghe, Secretary to the Ministry of Digital Economy Waruna Sri Dhanapala, and Chinese Ambassador Wei Huaxiang visited the Huawei exhibition and explored the AI Hands-On Classroom AI Empowering Industry, AI in Education and Smart Classroom demonstrations. Deputy Minister Weeraratne praised Huawei’s practical approach to showcasing AI applications, noting their relevance to Sri Lanka’s digital transformation across education, industry and skills development. The engagement also extended across the wider AI ecosystem, with industry professionals, technology partners, academics and other visitors engaging with the demonstrations and expressing appreciation for Huawei’s practical approach to applying AI across different areas of society and the economy.

Daniel Wu, CEO of Huawei Sri Lanka, said that Huawei will continue bringing global experience, technology and ecosystem resources to Sri Lanka, while working side by side with local partners to build local capabilities, develop local talent and create real value for the country. “I believe that by working together, we can make AI not only more intelligent, but also more local, more inclusive, and more meaningful for everyone,” he said.

Continue Reading

Trending