Role in the Global Market
The Sri Lankan Electronics Industry is progressively developing into the status of a hub for a global electronics value-added supply chain with products and services finding acceptance among the most discerning buyers in Japan, Europe and North America and India.
The key stakeholders of the Electronic Industry are all ISO certified, committed towards protecting the environment, observe ROHS and WEEE regulations, decent labour in conformity with the ILO requirements. The Industry has therefore found wide acceptance and is increasingly attracting sophisticated buyers from Electronics Manufacturing Services partners operating in Japan, Europe, North America and India.
As part of its market development vision, the industry is currently focusing on the opportunities for electronic components and assembly in the neighbouring market of India and specially Tamil Nadu in areas such as automotive electronics, telecommunications, bio-medical engineering and consumer electronics. The industry is targeting to grasp at least a small percentage of the opportunities available in the lucrative Indian Market for Electronics, which stands at US $60 billion turnover per year.
Sri Lankan exporters are privileged to receive several added advantages and preferential market accesses under several bilateral and other agreements, including the Indo-Lanka Free Trade Agreement, Pakistan-Sri Lanka Free Trade Agreement and South Asian Free Trade Area(SAFTA)