Sri Lanka’s apparel industry looks to innovation and policy support for growth
Daily FT: The Sri Lanka Apparel Exporters Association (SLAEA) newly elected, first-ever female Chairperson Rajitha Jayasuriya has called for bold strategies, innovations and Government support to secure the industry’s future.
Addressing members at the association’s 42nd Annual General Meeting (AGM), she outlined four key priorities for the industry in a rapidly evolving global market.
Firstly, she stressed the need for technology and innovation. Embracing automation, digital-first strategies and transparency across the value chain will be critical to meeting the demands of sustainability-focused, digitally-driven brands.
“Innovation would boost speed-to-market and productivity, whilst making Sri Lanka more competitive,” she added.
Secondly, she highlighted the importance of export market diversification. “Over-reliance on traditional markets exposes the industry to external shocks. Thus, expanding into developing and emerging economies is essential to stabilising growth,” she explained.
Thirdly, Jayasuriya underscored the need to focus on labour and workforce empowerment. “Policies that up-skill workers, especially women and ensure ethical practices will strengthen appeal in an era of growing consumer demand for transparency and traceability,” she said.
Fourthly and finally, she emphasised the role of national policy in driving the industry forward and called for robust Governance support through free trade agreements, stable fiscal policies and incentives to boost local production capabilities.
She highlighted domestic fabric mills and the expedited development including Eravur Fabric Park, citing it is crucial to reducing reliance on imported raw materials and creating a vertical supply chain.
Jayasuriya described a stark picture of the industry’s current environment, stressing how global economic uncertainties, geopolitical tensions and increasing environmental awareness are focusing the fashion sector to reinvent itself.
Sri Lanka’s apparel exports, she said, reached $ 4.7 billion in 2024, reflecting a modest growth, but was still below the pre-pandemic level of $ 5.3 billion in 2019.
Despite these numbers, Jayasuriya expressed confidence in the country’s unique position as a trusted destination for ethical and sustainable apparel manufacturing.
OSL take:
Sri Lanka’s growing manufacturing industry, especially the apparel sector, which is a key revenue generator to the country has presented many business/investment opportunities for foreign businesses/investors that are on the lookout for lucrative business ventures in Sri Lanka. The call for innovation by Sri Lanka’s apparel industry has presented a new business/investment opportunity. The local apparel industry has received a continuous boost by the many trade agreements as well as trade concessions enjoyed by the country with many foreign countries. Therefore, Sri Lanka’s apparel industry presents many lucrative business/investment opportunities that would also witness a continuous growth. With local businesses engaged in the local apparel industry posting growth and profits, foreign businesses/investors could explore the growing business potential in the industry.
Article Code : | VBS/AT/20250205/Z_4 |