Sri Lanka Crisis and Opportunities for Indian Tea & Textile Exporters

As per Sri Lanka Import Data, the country is the second largest exporter of tea in the world. Tea was the first most products exported in Sri Lanka. Also the country is exporting $5.42 billion worth of garments to the global markets annually. However with the crisis the country is facing it is not able to meet the demands of global tea and textile importers.

As per India Export Data, the country is witnessing the surge in demand of tea and textiles from all across the globe. The textile hub of Tirupur in Tamil Nadu and tea estates of southern India and Assam are witnessing a surge in overseas orders as the export demand has diverted to India from Sri Lanka owing to economic and political crisis in the island nation.

Garments and tea are the major exports from Sri Lanka. Due to ongoing crisis global brands have started diverting some of their orders from Sri Lanka to India’s Tirupur textile hub. These orders are being placed for the upcoming fall season.

As per the Latest Import Export Data, global brands like Zara, Mango and H&M place orders with Asian countries including India, Cambodia and Vietnam. Bangladesh, Vietnam and Cambodia have huge orders in their hands and so only option left in this scenario is India. Sri Lanka exports $5.42 billion worth of garments to the global markets annually.

While exports orders for apparel are being diverted to India, the tea industry in the country too has started getting export enquiries from the markets where Sri Lanka used to sell teas.

As almost all tea processing units in Sri Lanka are witnessing power cuts for almost 12 to 13 hours a day and have not enough fuel to run their generators. This is leading to production disruption and thereby impacting the quality of black tea leaves.

Sri Lanka produces authentic tea leaves that are exported to countries like Iraq, Iran, UAE, Libya, Russia and Turkey. India too produces authentic tea, which goes to Iran and Russia. Some of the orders of tea consuming nations are being diverted to India. This has resulted in surge for opportunities for tea and textile exports in India.

Taking a look back at Russia’s trade with Other Countries

Comments

Post a Comment

Popular posts from this blog

Import and Export Procedures in Vietnam 2023

Import Procedures in Vietnam: Import License: Some goods require an import license issued by the relevant authorities in Vietnam. Importers should check whether their products fall under this category. Customs Declaration: Importers must complete customs declarations accurately and submit them along with supporting documents to customs authorities. Vietnam Import Data Customs Clearance: Imported goods must undergo customs clearance procedures, which include inspection, assessment of duties and taxes, and compliance verification. Payment of Duties and Taxes: Importers are responsible for paying import duties, taxes, and other applicable fees based on the classification and value of the imported goods. Documentation: Required documents for importation typically include commercial invoices, packing lists, bill of lading or airway bills, import permits or licenses (if applicable), and certificates of origin. Export Procedures in Vietnam: Export Registration: Some products may require ex...
Read more

Russia Import Export Statistics 2023

  Russia's trade activities were significant, with both exports and imports playing crucial roles in its economy. Here's a general overview: Exports: Energy Resources: Russia is renowned for its vast energy resources, particularly oil and natural gas. These resources constitute a substantial portion of Russia's export revenue. Russia Export Data Minerals and Metals: Russia also exports various minerals and metals, including iron ore, coal, aluminum, and copper. Arms and Military Equipment: The country is a significant exporter of arms and military equipment to various countries around the world. Agricultural Products: Russia exports agricultural commodities such as wheat, barley, and other grains. Imports: Machinery: Russia imports machinery and equipment for industrial purposes, including machinery for manufacturing and infrastructure development. Russia Import Data Consumer Goods: Like many countries, Russia imports various consumer goods such as electronics, clothi...
Read more

Importance of Turkey Import Export in Trade Data Business

Are you planning to do trade business with Turkey? If so, it is very important to know the trade dynamics of the country so that you can make informed business decisions. Here comes the need of Turkey Global Import Export Data details on real-time basis for successful international trade expansion. Turkey Import Data is collected of statistical information about each company’s business activities. It is based on the shipping bills, import bills, invoices and other import export documents. The data provides a bird’s eye view of the commodities that are imported or exported in Turkey. The Turkey import and export data contains information about price, HS code, importers’ details, exporters’ details, custom data, shipment data, competitors’ data, product description and quantity. Know the importance of Turkey import export data 1. The authentic and real-time import export data is used to estimate the consumption pattern of Turkey. The businesses can predict the local demand of commoditi...
Read more