Importance of Sri Lanka – Hub of South Asia

• Sri Lanka has an international reputation as a reliable and a quality manufacturer with a highly competent, skilled and literate workforce.The apparel manufacturers provide sophisticated and sustainable solutions such as Design, R&D and Innovation for the development of lingerie, swimwear, sportswear, activewear, casualwear & athleisure for world’s renowned brands and retailers.
• The apparel exports are estimated to cross $5.4 billion by 2023 and the domestic apparel and brands market is estimated to be over $2 billion.
• Sri Lanka imports $1.7bn of fabrics annually for both domestic consumption and for the manufacture of apparel for export. In the year 2020, Import of all items (Woven, Knits and Yarns) under HS code 50 to 60 - $2,286 million.
• The country depends on textile imports from India, Pakistan, China, Hong Kong, Korea, Taiwan, Indonesia and other markets for apparel production for domestic and export markets.
• The country is planning to set-up a fabric processing park in the East of Sri Lanka to meet demand for raw materials.

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