Textile Industry in sri lanka

TEXTILE INDUSTRY IN SRILANKA OVERVIEW

The island nation of Srilanka has a diverse economy of which textile industry has the biggest share. Around 15% of the total workforce of the nation is employed under the textile sector. If one talks about the women empowerment, this island nation solely believes in it as the 80% workforce of textile industry comprises of women. The approach of the market is export centric. The industry has developed since 1985 when multi-fiber trade agreement was signed, due to quota system, Srilanka got the maximum benefit. USA is the largest importer of the produce. Not only the apparels and garments, but also the warehouses in Srilanka are in state-of-art condition thereby USA prefers the warehouses of Srilanka for storage purposes.

The industry has enjoyed a robust growth in the recent years as the multi fiber arrangement has favored the industry since 1978. It has been a transforming journey from manufacturing ethnic and handloom products to manufacturing the trendy and versatile garments covering all the aspects. From swimwear to kids wear, women's clothing to men's clothing, Sri Lankan textile industry has since long been catering to the demands of the fashion industry too. Top 3 textile companies in Srilanka have been featured in top 50 garments companies in the world.

textile industries in sri lanka

DEVELOPMENT IN TEXTILE MARKET OF SRI LANKA RECENT YEARS

Earlier, the production of apparels and garments in Srilanka was confined to the domestic market only. The demands of the local market were the prime criterion for the textile industries in Srilanka. The global textile market was a far from being tapped and explored. But over the years the situation changed and the outcome was positive as the industry grew over the years which showed that Srilankan textile industry was not only a meager domestic market but due to the seamless efforts and untapped potential, gradually the manufacturers and suppliers in Srilanka through their consistent efforts and the support from the government penetrated into the global market. Srilanka is also a big import market for spinning and weaving yarns the adequate technology to spin and weave yarn is under development stage. Exporters from major Asian and European market have a vast and potential market in Srilanka for yarn and fabrics. The major fashion brands and renowned garment manufacturing companies in Sri Lanka have their products assembled and manufactured in Srilanka. The cost of labor and production is low yet the finished product is of stellar quality. Due to research and development in the textile machinery, the product manufactured is competitive and par excellence in the global market.

PRESENT DAY SCENARIO OF TEXTILE COMPANIES IN SRI LANKA

At present the contribution of textile industry in the GDP of the nation is around 6%. The majority of products being of the industrial export and the considerable portion of the products being shipped off to prominent fashion houses around the world. The industrial production and the categorized production of the fashion apparels and eco-friendly garments are the peculiarity of the textile industry of Srilanka. The export centric approach of the country has been successful by now as the entire European and the American market has been the largest importer for the Srilankan goods and the suppliers and manufacturers in Srilanka have a wide range of ethnic wear products to offer which are renowned for their unique and ethereal designs all over the world. Here at textile infomedia, we provide the list of all manufacturers, suppliers, wholesalers and importers of the textile products along with their contact number and correspondence details. This will help the users to customize their search for the proper place to conduct the business and will save time and money both.

sri lanka textile Business and Market