Industry in Sri Lanka
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SRI LANKA, 2015/12/28
A $1bn revenue target is spearheading Sri Lanka’s efforts to solidify its place as a key source market for gemstones and jewellery, although flat world sales of luxury goods, coupled with labour shortages, risk hindering the country’s efforts.
Sri Lanka is home to 70 of the world’s 200 varieties of coloured stones, inclunding its best-known export, the Ceylon sapphire. Estimates suggest that 80-90% of the country’s rock formations could hold gem deposits.
However, with growing regional competition in gem and jewellery trading, Sri Lanka will have to dig deep to win back its status as an industry hub.
