Sri Lankan apparel industry is seriously losing its competitiveness provide few reasons and
some remedial measures.
In Sri Lanka’s economy, apparel industry plays a major role as it exports thousands of apparel products throughout the world. In recent times, Sri Lankan apparel industry is facing downside due to less skilled labors and high raw material costs. Sri Lanka is known for cheaper and quality apparel products. But now many skilled labors migrate to foreign countries and due to certain factors raw materials costs are increased as well. Since there are less skilled labors they demand more wages and that leads to increase the cost of final apparel products. And since there are more unskilled labors there are high chances for many defects in the final products and that loses its customers. This all factors lead to reduce competitiveness and demand for the Sri Lankan apparel products. Remedial measure Sri Lanka's garment industry is highly concentrated in large scale factories. That concentration will save a large part of export earnings while preserving job opportunities. Introduce more technology.
Why Sri Lanka is behind in technology?
Sri Lanka didn’t spend on research and development and no adaptation on new technology. Introduce stem based education whether they would learn more math’s and able to work with new technology.