Innovations, Modern Technology, Digitization crucial for the Industrial sector – Minister Dr. Bandula

On Oct 29, 2023

The 2023 National Printing Awards organised by the Sri Lanka Association of Printers (SLAP) was held in Colombo recently under the patronage of Minister of Transport, Highways and Mass Media Dr. Bandula Gunewardhana, with State Minister of Finance Dr. Ranjith Siyambalapitiya in attendance as a special guest.

Speaking at the event, Minister Dr. Bandula Gunewardhana said that, “In the face of the worst economic crisis our country faced since independence, Sri Lanka’s economy contracted by 8% in 2022.

The crisis affected every industry, every business and production. No matter who makes any kind of political statements, as subjective measurers, we have a correct understanding of the factors that led to this situation. For a long time, due to the existence of a Budget gap that the country cannot bear, we got stuck in a debt trap”.

“Also, due to the balance of payments deficit, the country has fallen into a severe economic abyss. In the face of all these conditions, the Printing Industry was also greatly affected. Those engaged in the industry had to face difficulties when purchasing raw materials such as ink, paper, machinery, etc., needed to run the industry”.

“Under the current situation, it is no longer possible to recover from the current economic crisis through traditional exports alone. Therefore, product diversification, market diversification and innovation are essential at this moment, in order to diversify exports. Otherwise, there will be no possibility to uplift the country economically, except keep blaming the traditional politics”.

“Especially countries such as India have now turned to earn a huge amount of foreign exchange through the export of Information Technology. In the changing world, the innovations in modern technology, including digitization, should be used more and more for the industrial sectors of our country”.

Industrial Development Board Chairman Dr. Saranga Alahapperuma, members of SLAP and a large number of distinguished representatives of leading printing houses graced the awards ceremony.

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