Lessons from the garments industry

The local apparel industry which has stood the test of time is today a vibrant mainstay of our economy, thanks to some creative and innovative thinking by our garment industrialists. The latter's resilience and forward thinking have enabled them to defeat some of the doomsday prophecies predicted for the local economy in recent times.

We are glad that Export Development and International Trade Minister Professor G. L. Peiris too is carrying on undaunted with meeting the challenges faced by our garment industry. At a time when political support is necessary for the furtherance of the fortunes of the industry, he has called on the relevant quarters in the US to provide preferential access for our garment exports. The importance of such sustained and increasing access is underlined by the fact that American purchases account for some 45 per cent of our garment exports.

The fact that our garments are readily accepted by sophisticated Western markets, such as the US, is firm proof that we can forge steadily ahead with our garment exports and reap a rich harvest of earnings from them, provided we possess the entrepreneurial zeal and innovative capability. We hope the US garments industry would take up our cause with the relevant US authorities and help boost our garment exports.

The lesson to be learnt from these developments is that we must endure against all economic odds in a spirit of daring. All avenues should be sought and exploited to further our economic gains. Minister Prof. G. L. Peiris has demonstrated the importance of this principle and we hope his example would not be lost on other political decision-makers.

It is a matter for comfort that the country has registered a GDP growth of 6.1 per cent in the first quarter of this year. This statistic too flies in the face of the doomsday economic prophecies which have been mournfully enunciated by interested parties about the country's condition.

However, this encouraging growth statistic should not be permitted to lead to a sense of smug complacency about our economic and material prospects.

The progress we have made should be a reminder to all that much more advancement is possible and that we could improve vastly on our performance. What is needed is a continuing entrepreneurial zeal and innovativeness.

The rest of our industrial sector needs to draw lessons on business growth from our "garment giants" who have creatively innovated their business strategies to suit the changed economic circumstances of the country. Some of these giants, for instance, have relocated some of their operations to foreign lands and have linked with their counterparts abroad to defeat adverse economic currents.

There is, therefore, no end to trying. Even the more daunting challenges need to be seen as golden opportunities.