Footwear and leather products manufactures are in dire straits due to lack of raw material and components for the industry, a top official of an industry association told the Sunday Observer Business on Friday.
A majority of the manufactures are badly affected due to the short supply of important raw material and components due to the foreign exchange crisis, Sri Lanka Footwear and Leather Products Manufacturers Association President P.G.D. Nimalasiri said.
To manufacture quality products there are quite a few quality important raw materials and components that need to be used. If the current situation continues for a few more months, the impending collapse of the industry will be unavoidable, Nimalasiri said.
“As the head of the Footwear and Leather Products Association I had raised the matter at many a forums and brought to the notice of policy makers cautioning them of the impeding danger to the sustenance of the industry which has grown to what it is today overcoming many hurdles throughout its journey,” he said.
The total direct and indirect employment generation through the sector is close to 300,000. The annual footwear requirement in the country is around 60 million pairs and prior to the pandemic the share of local manufactures was around 70% which has now reached around 80%. Local manufactures have the capability and capacity to increase the share up to around 90.
He said the value of the footwear and leather products sector exceeds Rs. 100 billion locally and the potential for exports is encouraging.
The Ministry of Industries,Sri Lanka Export Development Board and Industrial Development Board extent their fullest support to develop the sector.
Footwear and leather product exporters have established themselves as leading suppliers to global brands.Renowned for producing a range of products from colourful rubber thongs to high-quality genuine leather shoes, Sri Lankan footwear manufacturers have transcended from being a mere manufacturer to creative design and production solution provider to global buyers.