Sri Lanka Unable to Secure Relief from India — Former President Ranil

14-Jul-2025

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Former President Ranil Wickremesinghe has noted that the country’s apparel sector is under severe stress due to US-imposed tariffs. 

He added that failure to sign proposed agreements with India has also hampered access to much-needed relief.

He made these remarks during a meeting with leading apparel industry stakeholders, where concerns were raised about the impact of US President Trump's tariffs.

Sri Lanka’s economy heavily relies on foreign exchange from apparel exports. Solely depending on apparel to drive the economy is unrealistic, Ranil cautioned.

If Europe experiences an economic downturn next year, Sri Lanka could be further affected. 

Moreover, delays in finalizing key agreements with India have left the country unable to anticipate support from that direction. He insisted that had previous advice been followed, the current crisis could have been avoided.

One leading industrialist present remarked that it is time to decide whether the country should follow the path laid by Ranil or shift to a different course.