Tesco To Increase Sri Lankan Purchases

UK retailer Tesco has announced that it is targeting growth of 40% year-on-year (y-o-y) for the next three years for its purchases from Sri Lanka. According to international sourcing and logistics director Christopher Roussel, 'This year, Sri Lanka's contribution to Tesco is around GBP120mn (US$224.8mn) to GBP140mn (US$262.3mn) in retail value.' This represents an exceptional growth rate of nearly 60%. The biggest advantage the South East Asian country has over its neighbours is the speed at which it can deliver its goods to the UK. While goods shipped from China, India and Bangladesh all take around three weeks to arrive

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