DSI Tyres has
made a significant contribution to strengthening the Sri Lankan economy by
generating high export earnings while at the same time saving substantial foreign
exchange due to import restrictions. DSI Tyres 'latest initiative to raise
production capacity by 25 per cent, by prioritising local products and
promoting the current government's strategy of improving the national economy,
has also given a significant boost to local rubber growers' economic growth.
Buying local
rubber producers' products from the rubber collection centres in Kegalle,
Eheliyagoda, and Badalkumbura, DSI Tyres makes a significant contribution to
the development of local rubber cultivation. What is also remarkable is that
this year, in light of the convenience of consumers adversely affected by the
coronavirus pandemic, DSI Tyres did not raise costs. A 100 per cent local
business, DSI Tyres is the industry leader in bicycle, motorcycle, and
three-wheeler tires and tubes, and has also won the international market,
cementing its role as a pioneer in bringing foreign exchange into the national
economy.
DSI is a company
that has received several local and foreign awards, including the 2019 SLIM
Turnaround Brand of the Year award, including the Presidential Export Awards,
DSI Tyres' latest win. The company surpassed several multinationals to win this
accolade as a local company that successfully expanded the DSI Tyres export
market to 85 countries. Contributing to the local labour market by providing
direct jobs for 2800 people and an additional 6000 indirect work prospects, DSI
Tyres is proud to use local expertise and tools for its inventions. An
excellent example of this is the Gen X motorcycle tire, which was first
introduced to the local market recently.
Ranatunga
Rajapaksa, DSI Tyres' managing director, seeks to introduce high-quality
products made from local technology. He also argues that the Samson Rubber
Industry, which is a company born from Sri Lankan soil, will continue to play
an essential role in strengthening the national economy, though firmly rooted
in its local identity.
OSL Take: The state
of Sri Lanka has taken many initiatives to develop and uplift the country's
manufacturing and export sectors. Key among the programs are those aimed at
introducing the latest technologies and expertise to help Sri Lanka's
manufacturing and export sectors to more competitive in the global market. The
many trade agreements, as well as trade concessions enjoyed by Sri Lanka, have
also helped the continuous increase in the country's export earnings. Sri Lanka's
geographical positioning in the Indian Ocean has added to this advantage.
Therefore foreign businesses looking at engaging in Sri Lanka's plantation
sector could explore opportunities in the rubber plantation and the rubber
related manufacturing sector.
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