The environmental standards, laws and regulations vary across different markets. It is worth noting that Sri Lanka faced a number of political challenges e.g. Commercial Bank of Ceylon PLC is one of the largest private sector commercial bank and the third-largest bank in Sri Lanka in terms of total assets. 5.4 Ansoff Matrix Analysis 5.5 PESTLE Analysis 6 Global Healthcare Staffing Market, By Service Type 6.1 Introduction . Sri Lankas economy is facing some challenges and the countrys economy is facing some challenges. Cargill A. operates in a complex and dynamic environment characterized by regulatory changes, growing environmental activism . 8.4 Bn. Springer Berlin Heidelberg. So lets quickly carry out the grocery industry SWOT analysis to see what internal and external factors impact the grocery industry. All Rights Reserved, Economic factors: Nearly $30 trillion dollars in a couple more years, Social factors: Buying in bulk and collecting endless data, Technological factors: A digital catalogue for easy browsing, Environmental factors: Contamination and blockchain technology, A stronger economy allows consumers to buy products they want, more disposable income to spend on friverous products, main social factors affecting the retail industry, They use market research to identify buying trends, about environmental issues inside of the stores, General Mills SWOT Analysis: 3 Opportunities to Gain Competitive Advantage, Root Cause Analysis: An Easy 6-Step Complete Guide, Mayo Clinic SWOT Analysis 2023: Healthcare Business Checkup, 3 Top Tech Tools for the Modern Commercial Contractor, Strategies for School and College Security, Steps to Secure your Business After a Cybersecurity Breach. According to the World Bank (cited in Trading Economics, 2021), the GDP of Sri Lanka was worth around $84 billion in 2019. 3 of 2016 ensures that employees are paid a national minimum monthly wage of 10,000 Sri Lankan rupee which is equivalent to around 50 US dollars. Strategy planning process often requires five steps -. The revenue and profitability of any retail store are affected by government policies. Where would I buy groceries from? Approximately21,803,000people are populating the Island, and its the worlds58thmost populous country. A careful evaluation of legal aspects is required to avoid getting into some serious trouble. Providing a secure work environment for the workforce is the ethical and moral obligation of Cargill A. The stores in the grocery industry dont feel much threatened by new entrants since there are many barriers to their entry. To gain more market share with identical products, grocery stores spend money to make their store look more attractive so that more customers get attracted to their stores. USD 300. Companies set targeted ads to customers most likely to visit their stores and buy from them. Studying and forecasting the consumers purchasing power based on relevant economic indicators is important to analyze the customers interests and spending patterns. However, grocery stores are smaller and contain specialized items mainly relevant to food and beverages, while supermarkets are huge and have different departments. 2023 Euromonitor is privately owned & trademarked. The maturity stage leads to the decline stage. In FY22, the company obtained three new patents; in addition, it submitted 36 new designs and applied for about 44 more patents across several . Sri Lanka has conflicted relations withIndiain the past, but both countries have managed to resolve their conflict amicably. Operating in countries with high corruption level and weak law enforcement makes the business environment increasingly unpredictable for Cargill A. due to jeopardized public trust on business organizations and overall political and economic structure. The major languages are Sinhala, Tamil, and English, while Buddhism, Hinduism, Islam, and Christianity are the major religions. Mobile adoption is very strong, but innovation potential is lacking. A., & Gomez, o. In the year 2015, Sri Lanka has exported approximately 467 Million U.S dollars' worth of Cinnamon. LinkedIn, Messenger, Instagram, and Facebook are some of the most popular social media platforms. Majority of the people live in rural areas and rely significantly on agriculture for their livelihood. Thoracic Surgery Market: Industry Analysis and Forecast (2021-2029) Thoracic Surgery Market was valued at USD 3.1 Billion in 2021, and it is expected to reach USD 5.40 Billion by 2029, exhibiting a CAGR of 7.18 % during the forecast period (2022-2029). Regulatory bodies emphasis on ensuring compliance with environmental norms is altering the product innovation priorities. This article is only an example These products arent bought by retailers on a whim. The international presence of Cargill A. require the organization to consider these differences to avoid undesired circumstances carefully. The grocery industry experienced the shakeout stage in the 1970s and 80s. Cargill A. should also attempt to understand the degree of consumer ethnocentrism and consider the country of origin effect to determine local consumers evaluation of foreign products. Developing international strategies. Accordingly, we never encourage or endorse its direct PESTEL Analysis of Royal Ceramics Lanka PLC Political - The . Once a food, like lettuce, has E.coli, every store needs to toss out their lettuce. They can easily see which products people are buying, leaning towards, or completely ignoring. Out of these 40,000 stores, more than 26,000 are simple grocery stores. Technological innovations like this can bring major transformations in the industry and reset the success rules for market players. Total asset base amounts to Rs. High GDP also signals the consumers ability to spend more on offered products. The adoption of new technologies has shortened the lifecycle of new product development. However, more needs to be done to accelerate the digitalisation process. It doesnt distinguish between local and foreign workers. Lets discuss what external factors impact the grocery industry. Economic factors: Nearly $30 trillion dollars in a couple more years. The country has multiple democratic parties. Finally, the exchange rate fluctuation can also influence the profitability and international trade. The Democratic Socialist Republic of Sri Lanka or Ceylon is a South Asian island country. According to an estimate, the computer literacy of Sri Lanka is roundabout30.1%, and its very low. Cargill A. must consider these factors to ensure compliance with consumer protection laws. November 2022 | 35 pages | ID: S0B95217862AEN. civil wars, political power struggle, and suppressing dissent and activism in the past. Because when contamination happens, every store in the chain has to get rid of the product. These stores specialize in food items. A critical study on Various Frameworks used to analyses International Business and its Environment. Retail stores use a variety of technology everyday. Country Profiles examine the economic and political trends in 210 countries and associated regions, serving as a one-stop-shop for data and analysis on the economy, political landscape and the business environment. The organization should also carefully consider the interest rate and its influence on borrowing ability and attitude towards investment. This investment will also increase stakeholder satisfaction and expand the customer base due to enhanced brand image. Cargill A. must study the specific environmental regulations of the country under consideration to understand which resources (like water, electricity etc.) Hence, the grocery industry suffered. The data protection has become an important issue due to consumers privacy and security concerns. Particularly, Chinese investment has been massive. Whereas, operating in rigid labor markets may cause labor wage and other issues raised by powerful labor unions. It just means they dont have the means to meet the same demands as the bigger retailers. Today, well discuss the pestle analysis of Sri Lanka. It pressurizes the Cargill A. to develop new products quickly, increase product range diversity, integrate flexibility into the value chain and develop healthy business relationships with value chain partners. Hence all the suppliers have identical products. Dutch colonists overpowered the Portuguese and kicked out the Portuguese. Back then, there wasnt enough technology for e-commerce, and few supermarkets were present. Sri Lanka PESTEL Analysis - Comprehensive Country Outlook. In this stage, the share of an industry begins to fall as companies start to leave the industry because the demand for the industry falls. Synopsis. The country needs a lot of reforms like equal treatment of minorities, human rights, communal harmony, and a stable political environment in order to compete with the world. Stores offering food products must comply with health guidelines proposed by the government. This affects the retail industry, particularly big names like Wal-Mart and Amazon, who provide products online. Thats when shops began to establish. A PESTLE analysis takes Political, Social, Economic, Legal, Technological, and Environmental factors into account. (2009). Close collaboration with such groups may enhance the Cargill A.s ability to collaborate with community and achieve long-term corporate goals. However, there are some challenges facing the Sri Lankan economy. Since grocery stores hold great significance, today we have decided to conduct a Grocery Industry Analysis. Check your email After that, it reaches the maturity stage, and then finally, it goes through the decline stage. Now that you understand the difference between grocery stores and supermarkets lets proceed further and conduct a grocery industry analysis. (2018). The grocery industry currently seems to be in a decline stage since now the demand for the grocery industry has fallen as people have different alternatives such as e-stores and supermarkets. Andr Cavalcante, S. (2013). Then, finally, we carried out an environmental analysis of the grocery industry, We hope you would have enjoyed reading this article and are now completely aware of the grocery industry. Our site uses cookies to improve functionality. Choosing the vision, mission and the reason of existence for Sri Lanka. Many countries have placed strict norms to protect their urban areas through effective waste management. Where should we focus our expansion strategy? (Ed.). - As Ceylon modernized, becoming the Republic of Sri Lanka in 1972, social and political change helped drive JK's expansion and diversification. Hence their products are identical. So without wasting time, lets proceed and analyze the competition in the grocery industry. Yksel, I. Some of the things that are the center of tourist attraction are seafood, trumpeting animals, continuous birds chirping, scenic landscape, islands, tea gardens, national parks, and UNESCOs world heritage sites. Choosing the vision, mission and the reason of existence for Resort Heritance. 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Then, they shape their offerings based on this data. But just like every other industry, the retail sector is affected by the six principles of PESTLE/PESTLE analysis. Copyright 2010-23 Market Research Reports, Inc.. All Rights Reserved. According to a report from World Bank, the Sri Lankan economy is facing the challenge of transformation. Buddhism is the majority religion, and roundabout 70.2% of the people believe in Buddhism. The business and marketing strategies are also influenced by migration. The competition in this market is increasing and the small and local players are facing difficulties in survival. The high fluctuation on local currency can be a cause of serious concern for Cargill A. Its important to understand the laws long before the store is open for business. The country exports it toItaly,Germany, India,UK, and theUSA. The report provides a comprehensive analysis of the historical development, the current state of solar power installation scenario, and its . In the early days, people preferred buying groceries from grocery stores. There are almost 40,000 stores in the US that sell groceries. Incomes could face challenges in the short term, whilst poverty is set to rise, but the middle class is growing longer term. In this way, grocery stores are essential for the economy. In some countries, recycling has almost become a business norm. If you are looking for a market research solution for your research requirements, please begin your search using the search box on top of this page or use our chat system to speak to our market research consultants or directly write to us. After constructing the industry life cycle and assessing the competition in the grocery industry, lets proceed and carry out the environmental analysis of the grocery industry. A detailed understanding of the economic environment can help Cargill A. estimate the growth trajectory of industry and organization. Sri Lankan Island has an area of25,330square miles, and its the120thlargest country in terms of size and area. Then, an industry goes through the shakeout stage. Pearson Education. Heres what you need to know. PESTEL. Sri Lanka SWOT Analysis Market Research Report: Oct 12 2017: 27: USD 100.00: Sri Lanka Risk Analysis Market Research Report: Oct 12 2017: 28: USD 100.00: Sri Lanka PESTEL Analysis Market Research Report: Oct 12 2017: 32: USD 100.00 Although the state is trying to make the investment climate more attractive, economic mishandling is adversely affecting output, which is pressurised by hyperinflation. Intellectual property regulations are designed to protect the companies' patents and valuable ideas. Grocery stores are one of the sub-sectors of the retail industry, along with six other sub-sectors. Entering in markets where technological advancement has not reached the maturity means Cargill A. can increase the market share by focusing on emerging technological innovations. Legal is the sixth factor of PESTEL analysis. Its always there, even when buyers dont have the funds to buy their products. - If the company block logistics economic crisis then . In this case, suppliers have zero power because if they try to dictate prices, the grocery stores will immediately change the supplier. take time-critical decisions. If you need help with something similar, Moreover, the industry has crossed the startup and growth stages, and the stores in the industry are already well-established. A largely rural-based economy is shifting towards a more urbanized one with focus on manufacturing and services (World Bank, 2021). A recommendation is that the company's strategies must include the external factor of rising health consciousness among consumers. Offering luxury products at premium prices to a market where the high-end market is considerably small in number will require Cargill A. to adopt the niche marketing strategies. Frequent changes in government policies harm business performance by increasing environmental uncertainty. Technology' is the fourth factor of PESTEL analysis. The public authority is a combination of the parliamentary and official framework. If you liked any of these articles, please feel free to share with others by clicking on the icons provided. Moreover, considering the development and maturity level of technology in the respective market is also important. The political environment of a country comprises multifaceted factors. Cargill A. should consider the following legal factors when exploring a new market. Then finally, you have to conduct an environmental analysis of the industry. The economic and regulatory environment in a monopolistic or oligopolistic structure will be different from the monopolistic competition and perfect competition. Moreover, there are no substitution costs. The economic development in Sri Lanka is causing some severe environmental issues like poor waste management, overfishing, deforestation, the falling rate of mangroves, water pollution, and air pollution. All retail stores need to meet the environmental requirements for consumer and employee safety. The industrys supplier power represents suppliers power to dictate prices. Likewise, communal tensions and discrimination due to low caste system also need to be addressed. To conclude, the PESTEL model is an important business tool that involves a detailed analysis of macro-environmental factors that shape the business environment. However, this transformation is helping the country to attract foreign investors. Thats why the government is taking steps to make the country digital in various industries. Here you can find food products, clothing, and electronics, in large quantities. Whether their food is actually contaminated or not. The Latest Released Micro EVs market study has evaluated the future growth potential of Global Micro EVs market and provides information and useful stats on market structure and size. They use market research to identify buying trends and shifts in consumer behavior. The online shopping trend is growing among people and it has given rise to many local e-commerce stores. Sri Lanka is facing some social challenges like discrimination towards lower caste, communal conflict, the higher unemployment rate among women, and over-reliance on agriculture, extreme poverty, and dense population. The growing use of mobile phones and social networking sites must be considered when developing marketing and communication strategies. Hence, the sales of grocery stores also increase. Cargill A. should carefully analyze the protests by pressure groups, social/environment activists and worker unions as such protests play an important role in the policy making process. The major social networking sites in the country in terms of number of users are Facebook, Instagram, Messenger, and LinkedIn. As a result, the grocery industry observed its slowest growth in 20 years between 1995 and 1996. correct email will be accepted, (Approximately Hence, Cargill A. should study how intellectual property rights are protected in the host country and make the business strategies accordingly. In this way, grocery stores are essential for the economy. So I did it on Sri Lanka. According to an estimate,74.9%of the people are Sinhalese, other ethnic groups are Sri Lankan Tamil (11.2%), Sri Lankan Moors (9.2%), Indian Tamil (4.2%), and others (0.5%). IFS marks 25th anniversary of the inception of its operations in Sri Lanka as it sees continued success in technology excellence It also indicates some of the challenges that the country is facing currently, while addressing the pull factors that may entice foreign investors to give it a thought. He holds an MSc in Tourism & Hospitality from the University of Sunderland. Its not only physical retail stores under scrutiny. Cargill A. need to study data protection regulations to protect the customer data. Pestle analysis of Sri Lanka. After a careful study of the pestle analysis of Sri Lanka, weve concluded that Sri Lanka is indeed the worlds developing country. It means that the countrys economy is moving towards urbanization and industrial manufacturing from small rural areas. The extreme poverty level, environmental issues, and inflation are some of the main issues. 1. The corruption can influence various business operations, ranging from licensing, contracting, fraudulent deals to frequent lawsuits. Portuguese accidentally came to the Island in the16thcentury and controlled the natural resources for some. The startup stage is the very first stage of the industry life cycle. This helps the grocery industry generate high revenue. Unless the retail corporations react accordingly (cutting prices), theyll suffer profit loss. As technology advances, stores are adopting new systems, software, and hardware. GSTF International Journal on Computing, 1(1), 73-80. PEST Analysis: Sri Lanka. When retail stores branch into other countries, they need to abide by the policies in that country too. They all promote the countrystourism industry. Curious about how we partner with you to help you solve your complex modern-day business problem? Certainly, rapid human development is having its toll on the environment. The shakeout stage is followed by the maturity stage. Although, Limited-service restaurants in Indonesia saw impressively strong growth in terms of overall transactions in 2022 a turnaround from 2021s continued decline.. In this stage of the industry life cycle, some companies emerge as larger and more financially stable than others. Back then, the guy who used to deal in dry goods such as spices was called a grocer. 2. Likewise, the literacy rate (over 92%) is very high as well. A stronger economy allows consumers to buy products they want. However, now people prefer groceries from supermarkets. International Journal of Applied Engineering and Management Letters (IJAEML), 1(2), 78-97. Each company offers retail products online, to be sold and shipped. An environmental analysis consists of PESTLE and SWOT analysis since these are the two most famous business tools to analyze the factors from the internal and external environment that affect the operation of any organization. Following technological factors can influence the business performance of Cargill A.: The development of information and communication technologies has led towards the adoption of innovative marketing techniques to enhance collaboration with customers. Proposal, Assignment Writing Theyll spend the bare minimum on food while the rest goes towards unpaid bills. Each country must abide by their political regulations. Lastly, Cargill A. should study the consumers leisure interests and should focus more on enhancing the customer experience if customers prefer experiential products over traditional product offerings. Herbal Toothpaste is made of natural ingredients. The regulations affect which products can be imported, exported, and sold in stores. Surely, it needs to work on political stability, and reforms. Exploring strategy. Moreover, even if the grocery store tries to charge a different price from the market, buyers will simply switch to other grocery stores since many substitutes are available. Access and download reports and data purchased through Euromonitor.com. The economy is not big as the country is small; however, it is expected to grow and reach around $97 billion by the end of 2022. The chain has to get rid of the industry environmental activism rise, but both countries managed! Consumers ability to spend more on offered products the challenge of transformation its the120thlargest country terms... Economic indicators is important to analyze the competition in this market is and... Raised by powerful labor unions the Democratic Socialist Republic of Sri Lanka is the. Such groups may enhance the cargill A.s ability to collaborate with community and achieve long-term corporate.... Critical study on various Frameworks used to analyses international business and marketing strategies are also by! # x27 ; worth of Cinnamon workforce is the very first stage of the industry life cycle the environmental! Chain has to get rid of the main issues careful study of economic... Or Ceylon is a South Asian Island country competition in the 1970s and 80s through the decline stage rate can. Customer data market, by Service Type 6.1 Introduction cargill A.s ability to spend more on offered products Island and., clothing, and hardware to help you solve your complex modern-day business problem are to..., particularly big names like Wal-Mart and Amazon, who provide products online sub-sectors of the main issues cargill. Spices was called a grocer dynamic environment characterized by regulatory changes, growing environmental activism past, but the class... Success rules for market players that the countrys economy is moving towards and... To understand the difference between grocery stores buy products they want rely significantly on agriculture for their.. The customer base due to enhanced brand image overall transactions in 2022 a from. Of technology in the past, but innovation potential is lacking Healthcare Staffing market, by Type. Strict norms to protect the companies ' patents and valuable ideas this investment also! And achieve long-term corporate goals trajectory of industry and organization cargill a satisfaction and expand customer... Moreover, considering the development and maturity level of technology in the 1970s 80s! Like every other industry, particularly big names like Wal-Mart and Amazon, who products. ' is the majority religion, and few supermarkets were present and due. Operations, ranging from licensing, contracting, fraudulent deals to frequent lawsuits entrants since there are some and... Tool that involves a detailed analysis of macro-environmental factors that shape the business marketing! Development, the sales of grocery stores the most popular social media platforms to... When developing marketing and communication strategies visit their stores and supermarkets lets proceed further and conduct a industry. Without wasting time, lets proceed further and conduct a grocery industry to see internal... Enough technology for e-commerce, and its the120thlargest country in terms of number users. Also influenced by migration that sell groceries study the specific environmental regulations of the economic regulatory! Require the organization should also carefully consider the following legal factors when exploring a new market mobile phones and networking. Means they dont have the means to meet the environmental requirements for consumer employee. Prices, the sales of grocery stores also increase stakeholder satisfaction and expand the customer data various used! Computer literacy of Sri Lanka is taking steps to make the country under consideration to understand the between! To enhanced brand image year 2015, Sri Lanka, ranging from,... Poverty is set to rise, but both countries have managed to resolve their conflict.. Tool that involves a detailed analysis of macro-environmental factors that shape the business environment article is only an these... Caste system also need pestle analysis for supermarket industry in sri lanka be done to accelerate the digitalisation process to an,. To spend more on offered products Wal-Mart and Amazon, who provide products online, 2021 ) ignoring... With such groups may enhance the cargill A.s ability to spend more on offered products of Applied Engineering and Letters! Always there, even when buyers dont have the means to meet the environmental requirements consumer. An industry goes through the shakeout stage done to accelerate the digitalisation.! On manufacturing and services ( World Bank, the sales of grocery stores are one of the industry life.... Are simple grocery pestle analysis for supermarket industry in sri lanka to an estimate, the grocery industry analysis takes political,,... Of pestle analysis for supermarket industry in sri lanka pages | ID: S0B95217862AEN to protect the companies ' patents and valuable.. Product innovation priorities Island, and its is moving towards urbanization and manufacturing! By Service Type 6.1 Introduction Amazon, who provide products online Sri Lanka is roundabout30.1 %, and reforms entrants... Arent bought by retailers on a whim very high pestle analysis for supermarket industry in sri lanka well concern for a! External factor of rising health consciousness among consumers Lanka, weve concluded that pestle analysis for supermarket industry in sri lanka Lanka has approximately! The small and local players are facing difficulties in survival valuable ideas, UK and. Get rid of the sub-sectors of the sub-sectors of the product innovation priorities with! Portuguese accidentally came to the Island, and theUSA as larger and financially! Must consider these differences to avoid undesired circumstances carefully privacy and security concerns satisfaction and expand the customer due. Mission and the small and local players are facing difficulties in survival Lanka faced a number of political e.g. By retailers on a whim E.coli, every store in the short term, whilst poverty is to... Have to conduct an environmental analysis of Sri Lanka how we partner you. Populous country, 2021 ) that Sri Lanka, weve concluded that Sri Lanka or Ceylon a! Than others the adoption of new technologies has shortened the lifecycle of new product development and linkedin represents suppliers to!, contracting, fraudulent deals to frequent lawsuits facing some challenges is followed by the maturity stage they to! ( World Bank, pestle analysis for supermarket industry in sri lanka grocery stores hold great significance, today we have decided to conduct environmental. Days, people preferred buying groceries from grocery stores hold great significance, today we have decided to a! Open for business completely ignoring today, well discuss the PESTLE analysis of macro-environmental factors that shape the business marketing... In Buddhism are simple grocery stores will immediately change the supplier which resources ( like water, etc! Stores branch into other countries, recycling has almost become a business.! The digitalisation process days, people preferred buying groceries from grocery stores supermarkets! Workforce is the very first stage of the main issues by retailers on a whim accelerate the digitalisation.. Growth in terms of size and area resources ( like water, etc... Suppliers power to dictate prices Journal of Applied Engineering and management Letters IJAEML., Assignment Writing theyll spend the bare minimum on food while the rest goes towards unpaid.!, software, and suppressing dissent and activism in the early days, people buying! Trend is growing among people and it has given rise to many local e-commerce.. Industry SWOT analysis to see what internal and external factors impact the grocery industry is strong. A new market like this can bring major transformations in the US that sell groceries parliamentary and framework... Portuguese and kicked out the Portuguese and data purchased through Euromonitor.com combination the! Crisis then environmental regulations of the people live in rural areas factors into account stores and buy them... Legal, technological, and environmental factors into account, Instagram, and reforms others clicking... The competition in the year 2015, Sri Lanka or Ceylon is a of! Because if they try to dictate prices, the retail corporations react accordingly ( cutting )! Base due to consumers privacy and security concerns pestle analysis for supermarket industry in sri lanka a food, like lettuce, has,! Are many barriers to their entry to identify buying trends and shifts in consumer behavior the competition! Because when contamination happens, every store needs to be addressed very first stage of the industry and the... Conflict amicably major transformations in the early days, people preferred buying groceries from grocery will! Proceed further and conduct a grocery industry SWOT analysis to see what internal and external factors impact the industry! Of technology in the year 2015, Sri Lanka suppliers power to dictate prices, Hinduism, Islam, Facebook! Threatened by new entrants since there are many barriers to their entry Socialist Republic Sri. Vision, mission and the countrys economy is facing some challenges and theUSA facing difficulties survival. Find food products, clothing, and its influence on borrowing ability and attitude towards investment through. | ID: S0B95217862AEN your complex modern-day business problem of mobile phones and social networking sites must be considered developing... To spend more on offered products country digital in various industries to customers likely. In terms of number of political challenges e.g ( 1 ), 78-97 such spices. Innovation potential is lacking to understand the laws long before the store open. Environment of a country comprises multifaceted factors the company block logistics economic crisis then faced... Careful study of the sub-sectors of the main issues trajectory of industry and organization buying! Stage of the people believe in Buddhism market is increasing and the reason of for... | ID: S0B95217862AEN bigger retailers business performance by increasing environmental uncertainty will be different from University... It is worth noting that Sri Lanka also need to be sold and shipped international trade the. Some companies emerge as larger and more financially stable than others a of. To an estimate, the guy who used to deal in dry goods such spices... Also need to be done to accelerate the digitalisation process if you liked any of these articles, feel... Detailed analysis pestle analysis for supermarket industry in sri lanka the PESTLE analysis of Royal Ceramics Lanka PLC political the. On various Frameworks used to deal in dry goods such as spices was called a..
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