India expresses readiness to partner with Sri Lanka for the 21st century
India has reportedly expressed its readiness for an economic partnership for the 21st century with Sri Lanka in order to usher in sustained and rapid growth and shared prosperity.
India’s High Commissioner to Sri Lanka Gopal Baglay has underlined at the recently concluded Sri Lanka Investment Forum that the future of economic and commercial bilateral partnership could focus on areas such as ports, shipping, connectivity, logistics, energy/renewable energy, IT, tourism and hospitality, transport, real-estate, health, education and agriculture.
Outlining the comprehensive nature and scope of Indian investments in Sri Lanka, the High Commissioner had underlined the importance of private sector participation and noted that Indian business and industry were perhaps the best suited to partner with Sri Lanka by virtue of proximity, familiarity and longstanding ties between the two sides, according to local media reports.
Baglay has said that expedited implementation of bilateral projects would enhance investor confidence and boost economic growth while stable and predictable policies were identified as being the key for promotion of economic interactions.
The Sri Lanka Investment Forum had held a dedicated country session on India.
The dedicated session had reportedly included remarks by several dignitaries including High Commissioner Baglay and Sri Lanka’s State Minister for Regional Cooperation Tharaka Balasuriya, as well as a panel discussion involving representatives of three Indian companies with successful ongoing investments in Sri Lanka – HCL, IOCL (LIOC), and Ashok Leyland.
OSL take:
Sri Lanka and India enjoy strong bilateral and trade ties that continue to expand further. The two countries enjoy a functional free trade agreement (FTA) and enjoy preferential treatment in business as well as trade. Sri Lanka’s geographical positioning in the Indian ocean has placed it in a prominent position in the South Asian region. Foreign businesses/investors interested in doing business with India could look at setting up base in Sri Lanka to engage with India. Also, Indian businesses/investors could confidently explore business/investment opportunities in Sri Lanka and vice versa.
| Article Code : | VBS/AT/20210615/Z_4 |