India says keen to invest more in Sri Lanka.
Reuters:India is willing to make more investments in neighbouring Sri Lanka after supporting it with $ 3.8 billion this year, New Delhi’s envoy in Colombo told the Indian Express newspaper. “The idea is to respond to Sri Lanka’s requests for enabling them to meet their foreign exchange crisis,” said India’s High Commissioner in Sri Lanka Gopal Baglay. “We would like to continue to bring more investment into Sri Lanka because that will help create medium and long-term capacity to respond within the Sri Lankan economy.”
OSL take:
Sri Lanka and India enjoy strong bilateral and trade ties that have been further enhanced by an active free trade agreement (FTA). Both countries are currently exploring avenues to further boost the existing trade ties. India is also a key development partner of Sri Lanka. The increasing economic activities in the country have opened up many business/investment opportunities and given the close ties between India and Sri Lanka, Indian businesses/investors could confidently explore opportunities in Sri Lanka. Indian businesses could also look at forming partnerships or joint ventures with local businesses to expand operations. Many Indian businesses that have ventured into the key economic sectors in Sri Lanka have shown a growth momentum and recorded profits indicating the growing business potential in Sri Lanka. Also, other foreign businesses/investors keen on doing business with India could look at setting up base in Sri Lanka to engage with India using the preferential treatment enjoyed by Sri Lankan businesses in India.
| Article Code : | VBS/AT/02082022/X_2 |