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Sri Lanka is going to limit imports of textiles and ready-made garments and increase import taxes as a 5 years plan to develop rural industry

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905118-488557-handloomSri Lankan Minister of Batik, Handloom and Clothes, Dayasiri Jayasekara recently met importers of textiles, yarns and businessmen to discuss increasing the production of domestic clothes in rural areas over the next five years. A program for 10,000 manufacturers of handloom textiles, 200 villages and the equipment for this purpose will be launched.

Sri Lanka is going to limit imports of textiles and ready-made garments and increase garment import taxes. In the context of the efforts to improve the domestic textile industry over the next five years, the Government is planning to revise the tax on imports of cloth Rs 100 per kilo and may raise that amount to Rs 185 ($1).

According to media reports in Sri Lanka, the minister hoped, in particular, to upgrade small textile schools and enable students to turn entrepreneurs. The Minister spoke to the issue of stopping and processing imports of ready-made goods into Sri Lanka in future. On February 4, 2021, the Sri Lankan national flag will be hung in each house and Vesak festival is also supposedly accompanied by buddhist flags made out of local raw materials.

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