Economy

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

Published

2 years 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

Govt saving Rs. 5.7B through price regulation of 13 expensive medicines

Published

1 day ago

October 4, 2026

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The National Medicines Regulatory Authority (NMRA) says the government’s estimated savings from regulating the prices of 13 major high-priced medicines amount to Rs. 5.7 billion.

NMRA Chairman Specialist Dr. Ananda Wijewickrama made this statement at a media briefing held in Colombo today (01).

He further said that the savings to the public would vary depending on the medicines they purchase.

He noted that the medicines whose prices had been reduced are mainly those that patients require for long-term use.

Economy

CBSL Governor says Fitch upgrade reflects Sri Lanka’s progress on economic reforms

Published

6 days ago

September 29, 2026

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The Governor of the Central Bank Dr. Nandalal Weerasinghe said Sri Lanka’s sovereign rating upgrade by Fitch Ratings from ‘CCC+’ to ‘B-’ with a Stable Outlook reflects ongoing progress in macroeconomic stabilization and reforms.

Speaking at the 49th Annual General Meeting of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) on September 23, Dr. Weerasinghe stated that the restoration of stability following the severe economic crisis has provided a stronger foundation for the country’s next development phase.

“This progress has also been recognised by the upgrade of Sri Lanka’s sovereign rating by Fitch Ratings to ‘B-’ from ‘CCC+’, with a Stable Outlook, announced, reflecting the continued progress in macroeconomic stabilisation and reforms,” he added.

Economy

Sri Lanka ranked among top 10 global risers in tourism

Published

1 week ago

September 28, 2026

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Sri Lanka has been ranked among the top 10 countries in the world for the fastest improvement in the Travel and Tourism Development Index between 2024 and 2026, according to the 2026 Travel and Tourism Development Index released by the World Economic Forum (WEF).

Sri Lanka has been ranked 10th on the list, with its Travel and Tourism Development Index score increasing by 4.33% in 2026 compared to 2024.

Albania ranked first, recording a 7.0% increase in its index score.

Vietnam and Laos ranked second and third, respectively, with increases of 6.3% and 6.1% in their index scores.