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.