NDB conducts entrepreneurship training for Textile Training Institute students

In another progressive step towards reviving and developing the handloom industry, the NDB recently conducted an entrepreneurship training programme for students of the Textile Training Institute in Moratuwa.

The Textile Training Institute, operating under the purview of the Textile Department of Sri Lanka, conducts a handloom textile training course, with the aim of providing technical skills for the future successors of the industry.

However, it had been revealed that 95% of the students who complete the course, do not pursue careers within the hand loom industry, but resort to other means of livelihood.

Commenting at the inaugural ceremony of the training programme, NDB's Chief Executive Officer, Russel de Mel said, "We came to realise that the main reason for the high dropout rate after completion of the textile course was the lack of financial support and entrepreneurial knowledge to embark on an enterprise."

"We hope to begin the restoration of the handloom industry with a vision to make it a self -reliant, thriving industry in the country, while encouraging the younger generation to take up the profession by bridging gaps across the industry and academia.

There is a growing demand for authenticity around the globe today and environmentally responsible products such as handloom textiles have become increasingly popular."

"Thus we reckoned that as a Bank committed for national development and a precursor in SME development of Sri Lanka, it was upon us to take the initiative to revive this industry and make it more competitive in the current market place. I wish to take this opportunity to invite local entrepreneurs to take advantage of NDB's gamut of financial and advisory services, designed to empower them to take on the emerging opportunities of the new Sri Lanka," de Mel further opined.

Furthering its efforts to revive distinctive local industries of Sri Lanka, the NDB had initiated a special development programme earlier this year, with the aim of rebuilding the now defunct hand loom textile industry.

Reviving the waning traditional industries in the country and creating better export opportunities for such entrepreneurs, is a priority focus in NDB's agenda for SME development.