Economy

India surpasses Sri Lanka to become world’s second largest tea exporter

Published

1 year ago

March 28, 2025

According to data released by the Tea Board of India, India has exported 254 million kg of tea in 2024, thus becoming the second-highest exporter in the world.

While Kenya retained the first spot in global tea exports, India surpassed Sri Lanka to take the second spot. Kenya exported over 500 Mkg of tea in 2024.

In 2023, India and Sri Lanka were neck-in-neck in tea exports with around 231 Mkg, but in 2024 Indiaovertook the island nation with 24 Mkg more exports. India’s 2024 figures were also its second-best export margins behind 2018 when it exported around 256 Mkg of tea. India’s 2024 tea exports amounted to Rs 7,112 crore.

While India’s export figures hovered around 200-225 Mkg for the last several years, barring 2018, this impressive growth has provided the tea industry with the hope to touch the 300-Mkg mark by 2030. India, on average, produces 1,400 Mkg of tea every year.

The bulk of the export has come from the orthodox segment, the growth of which has been supported by various schemes launched by the Union and state governments in recent times. “With the favourable export policy by the Centre and support by the state governments, the industry is hopeful of increasing its export basket in the years to come,” said Prabir Kumar Bhattacharjee, secretary general of the Tea Association of India.

Source: The Times of India

Economy

Sri Lanka literacy hits record 97.4%, gender gap closes for first time

Published

3 hours ago

April 12, 2026

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Sri Lanka has achieved a historic education milestone, with literacy rising to 97.4% in 2024, up from 95.7% in 2012.

For the first time since 1881, the literacy gender gap has closed, with males at 97.9% and females at 97.0%.

Digital literacy has reached 67.6%, while computer literacy stands at 34.7%, highlighting Sri Lanka’s growing digital transformation.

Economy

$ 900 m in four months: Port City Colombo signals new investment era

Published

1 day ago

April 11, 2026

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From November 2025 to March, Port City Colombo secured approximately $ 900 million in investments, an almost unprecedented surge for a project that had seen gradual traction in its early years amid broader macroeconomic challenges. The timing is not accidental.

After a prolonged period marked by the Easter Sunday attacks, the global shock of the COVID-19 pandemic, and Sri Lanka’s economic collapse, the project remained largely in a holding pattern.

International marketing efforts began to gain momentum from late 2025 onwards, as conditions began to stabilise.

“The macro story had to align first,” Aluwihare explained. “You cannot market a country when the fundamentals are unstable. Now, we are seeing recovery, policy alignment, and growing confidence, and we are finally seeing the results.”

From real estate to a ring-fenced financial ecosystem

Port City Colombo’s most significant transformation has been conceptual rather than physical. Originally envisioned as a waterfront real estate development, it has evolved into a fully ring-fenced services export Special Economic Zone (SEZ), enabled by the Colombo Port City Economic Commission Act.

Economy

Sri Lanka’s Official Reserves fall 3.5%in March – CBSL

Published

3 days ago

April 9, 2026

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Sri Lanka’s Official Reserve Assets have decreased by 3.5% to USD 7,019 million in March 2026, according to the latest data of the Central Bank of Sri Lanka.

The CBSL states that the decrease is from USD 7,270 million reported in February 2026.

The CBSL further states that the figure for March includes the swap arrangement with the People’s Bank of China.