New strategies to mitigate adverse effects

Sanjeevi JAYASURIYA

The recent rupee depreciation presents opportunities for exporters and there should be new marketing strategies to mitigate adverse effects.

“As an exporter of locally manufactured tyres we consider the rupee depreciation to have a positive impact. The export fraternity should adopt strategies to take advantage of this situation and gain the competitive edge over global competitors,” Laugfs Holding Chairman W K H Wegapitiya told Daily News Business.

“Our products are high in quality and standards. However, we could not compete with China and India due to high prices. With the rupee depreciating it will help to be on a good platform,” he said. “The import of LPG and lubricants will not have favourable effects and this is a concern in the long run. We need to find ways to balance the cost increase with additional revenue generation to sustain growth and a healthy bottom line,” he said.

While stressing the need to have a conducive and encouraging environment to support entrepreneurs, Wegapitiya said that the government regulatory frame work should complement the export oriented local industrialists.

Laugfs Holdings has ventured in to 18 different businesses under its diversification plan during the past 17 years where it has become a new generation conglomerate.