CEOs Roundtable holds discussion on trade, business between Sri Lanka and India
Daily FT: A high-powered Confederation of Indian Industry (CII) delegation of Indian CEOs representing sectors such as manufacturing, healthcare, logistics, renewable energy, education, and tourism met with Sri Lankan business leaders at the ITC Ratnadipa in Colombo on 30 June for a strategic roundtable discussion.
The roundtable was organised by The Ceylon Chamber of Commerce and the Indo-Lanka Chamber of Commerce and Industry (ILCCI), in collaboration with the High Commission of India. The Ceylon Chamber delegation was led by Chairman Krishan Balendra and the CII delegation was led by CII Immediate Past President and ITC Ltd. Managing Director Sanjiv Puri.
The discussions focused on improving trade facilitation, aligning regulatory frameworks, and encouraging investment flows between the two countries. There was a strong emphasis on unlocking sector-specific opportunities through joint ventures, knowledge-sharing, and sustained business dialogue.
Indian High Commissioner Santosh Jha noted: “India has a Neighbourhood First policy, which means a more generous, non-reciprocal approach to the relationship towards our neighbours, and Sri Lanka is a central part of that Neighbourhood First policy.”
Balendra remarked: “We are lucky to be right next door to the fastest growing economy in the world, and it’s about how we tap into that opportunity and collaborate with the private sector in India.”
Puri observed that there are several trends that are providing opportunities across the world, and his belief is that there is a great opportunity for businesses in India and Sri Lanka to work together, not only to address opportunities in their domestic markets but also for the larger global market.
ILCCI President M. Raghuraman, in his closing remarks, highlighted the successes achieved by both countries, driven by the determination and initiative of the business communities. He also emphasised the importance of such forums as valuable platforms for the exchange of ideas and collaboration.
OSL take:
Sri Lanka and India enjoy strong bilateral, trade and business ties that have been further strengthened by a free trade agreement (FTA). While India is a key development partner of Sri Lanka, many Indian businesses/investors have also expanded operations to India’s neighbouring Sri Lanka. The growth and profits recorded by Indian businesses operating in Sri Lanka and the success of many Indian and Sri Lankan joint ventures of Sri Lanka are indicative of the expanding business ties between Sri Lanka and India as well as the increasing business potential in Sri Lanka. With Sri Lanka becoming an emerging business destination in the South Asian region supported by the country’s strategic positioning in the Indian Ocean and the strong trade ties Sri Lanka enjoys with many other countries, the expanding business/investment opportunities in Sri Lanka present many lucrative ventures for Indian businesses/investors. It is in such a backdrop that a group of Indian business heads were in Sri Lanka exploring the expanding opportunities in the country. Given Sri Lanka’s positive growth indicators, Indian businesses/investors could explore the expanding business/investment opportunities in Sri Lanka while also looking at further expanding operations through partnerships or joint ventures with Sri Lankan businesses.
| Article Code : | VBS/AT/20250704/Z_2 |