Lanka to capture $ 2 b market share in electronic products by 2020

Indunil Hewage

Sri Lanka is expected to capture $ 2 billion market share in electronic products by 2020 while increasing its exports at least by 30 % in the regional market in years ahead.

In Sri Lanka, over 100 companies are engaged in manufacturing electronics and electrical goods, and parts for both local and overseas markets employing about 10,000 workers. Out of 100 companies, several companies manufacture their own brand to be competitive in the global market.

" The industry is to promote made in Sri Lanka electrical and electronics products to the world market and currently, products are mainly exported to USA, UK, Australia, Finland, Singapore, Pakistan, the Middle East, Belgium and Africa.

On the other hand, there are untapped potential markets available in India and Pakistan, the Sri Lanka Export Development Board said.

The sector is expected to meet need for prototyping and designing in this field and action has been initiated to provide a rapid prototyping machine and multi layer PCB manufacturing facility to the Moratuwa University premises.

The Sri Lanka government has taken measures to develop and modernize education, Research and Development for electronic industry,establish design service providers in electronic circuit design,Die and Mould design, establish support industries capable of manufacturing precision plastic and metal components for the electronic industry, provide concessions to private sector to commence precision plastic and metal component manufacture, link with electronic manufacturers, identify suitable locations to set up technology parks close to University of Moratuwa,Peradeniya, and Ruhuna.