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The future of Sri Lanka's garment industry
The Island
|April 08, 2025
The Narendra Modi visit and what it means for the Sri Lankan garment sector
A 44% Trump tariff Could seriously impact Sri Lankan business and thereby FDI and jobs says Sri Lanka's Garment industry.
Sri Lanka is just stabilizing after the economic crisis. Stringently following IMF norms and increasing the tax base etc. have yielded results. And the country is moving towards recovery. Debts have been deferred to 2028, when it needs to be repaid.
And there are two ways to ensure that happensopening the economy - get valuable FDI and increase tax base so more revenue is collected from the people's earnings.
The garment industry in Sri Lanka has been a key earner of the foreign exchange - over the years the garment industry has earned a high of 5.95 billion USD in 2022 to 5 billion USD in 2024.
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