Sri Lanka seeks deeper trade ties, woos Indian investment post-crisis

Sri Lanka is looking to strengthen trade ties with India, with the Ceylon Chamber of Commerce noting momentum for Indian investments in hospitality, ports, and logistics following the island nation's economic recovery from its 2022 crisis.

Sri Lanka Woos Indian Investment Post-Economic Recovery

Sri Lanka is looking to deepen and strengthen trade ties with India and there is momentum for Indian investments, Ceylon Chamber of Commerce Chaiperson Krishan Balendra has said and noted that there is a lot of interest in areas like hospitality, ports and logistics. "We see an opportunity now to deepen and strengthen the partnership. The Sri Lankan economy, where we saw a crisis in 2022, has recovered and stabilised, and we have seen a couple of years of good growth and all the macroeconomic indicators are now positive. We are also seeing momentum for Indian investment," he said on the sidelines of India-Sri Lanka Business Forum organised by CII in partnership with the Ceylon Chamber of Commerce.

"There is a lot of interest in areas like hospitality, ports and logistics, and we thought, as the Ceylon Chamber of Commerce, that this was an opportune moment to visit India and engage with the private sector to look at opportunities for partnerships and collaboration," he added.

'A Natural Partnership'

Secretary (Protocol, FDI, Diaspora & Outreach) and Chief of Protocol in Maharashtra government Rajesh Ravindra Gawande said India and Sri Lanka have excellent bilateral relations. "We are neighbours, not divided by the sea but joined by the sea. Both Maharashtra and Sri Lanka have a very natural partnership, because we are in similarly placed situations... That bridge of commonality, of cultural linkage, is very strong. In terms of economic linkage, I would say that this cultural commonality automatically translates to commercial opportunity," he added.

Focus on Regional Resilience and Cooperation

Mahishini Colonne, High Commissioner of Sri Lanka to India, said regional partnerships would help strengthen resilience in the region. "Regional partnerships, proximity, trusted partnerships are valuable and whatever partnerships that we can create now will define the resilience of this region," she said.

The forum focused on trade, investment and sectoral partnerships, while providing Indian businesses direct engagement with a high-level Sri Lankan delegation from diverse industries. It is expected to help both countries explore new areas of economic cooperation. (ANI)

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