Mumbai: Some Indian industries are benefiting from the Sri Lankan crisis. Especially India’s textile industry and tea exports are benefiting. The crisis has led to a decline in exports of readymade garments and tea from Sri Lanka, benefiting operators of the Tiruppur textile plant in Tamil Nadu and tea gardens in Assam.
After tourism, tea and textiles are the major contributors to Sri Lanka’s GDP. Local sources said that these industries are currently disrupted due to the economic crisis, which is benefiting India.
Global buyers of readymade garments and tea are also coming to India. An official of the Tiruppur Exporters Association said that many global brands are placing their orders from Tiruppur Textile Center instead of Sri Lanka.
Under normal circumstances, Sri Lanka exports an estimated 2.50 billion worth of garments, which is now flowing into India. On the other hand, the countries to which Sri Lanka has been exporting tea are also looking to India for their tea requirements. Sources said orders from Indian tea exporters have increased in recent days.
Sri Lanka’s tea processing units are facing power cuts, severely affecting production. Countries including Iraq, Iran, UAE are now turning to buying tea in India instead of Sri Lankan tea.