Colombo’s Capital Alliance ties up with Edelweiss Financial Services to assist Sri Lankan investors access India’s capital markets
Colombo-based Capital Alliance (CAL) group has introduced a new initiative aimed at assisting Sri Lankan investors gain access to India’s capital markets by tying up with India’s Edelweiss Financial Services.
Chief Executive, CAL Group, Ajith Fernando has reportedly said a change in government policy in 2018 allows overseas investments by Sri Lankans, till then restricted to the domestic market.
“This is a great opportunity to direct our attention to a larger market,” Fernando has been quoted as saying at an ‘India Investor Day’ forum held by CAL in conjunction with Edelweiss, one of India’s diversified financial services companies.
Its capital markets business is among the largest Indian domestic institutional brokering houses.
“For the longest time, we were forced to invest excess money in Sri Lanka,” Fernando has said.
“India is sitting next door with a billion-plus people, growing at seven percent and amazing stock market returns over the last 10-15 years and we are not doing much about it.”
According to reports, the forum was held to announce CAL’s newest partnership with Edelweiss Financial Services to provide Sri Lankan investors access to India’s financial markets.
Sri Lankan investors can trade in stocks, debt and derivatives in India which in 2018 eclipsed China to become the world’s fastest growing economy.
OSL take:
The tie up between Colombo’s Capital Alliance and India’s Edelweiss Financial Services indicates the close trade and business ties between Sri Lanka and India. The link between the two companies would help Sri Lankan as well as Indian investors access to Indian and Sri Lankan capital markets. While foreign companies in India could use this link to explore Sri Lanka’s capital markets, foreign businesses in Sri Lanka could also explore opportunities of doing business in the Indian markets. The latest tie up could also be used as a positive development for other Indian and Sri Lankan businesses to form ties ups to ensure better business partnerships that would benefits both countries.
| Article Code : | VBS/AT/23012019/Z_3 |