NEW DELHI, June 11: A virtual country session dedicated to India was held at the Sri Lanka Investment Forum (SLIF) 2021, by the Board of Investment of Sri Lanka, the Ceylon Chamber of Commerce (CCC), and the Colombo Stock Exchange (CSE). Gopal Baglay High Commissioner of India, Tharaka Balasuriya the State Minister for Regional Cooperation, Niluka Kadurugamuwa the acting High Commissioner of Sri Lanka to India, Vish Govindasamy the Vice-Chairman of the CCC, Pasan Wanigasekara, Director General of the Sri Lankan Board of Investment participated and spoke at the country session.
According to a statement issued by Indian High Commission in Colombo, Balasuriya commended and thanked India for its assistance with medical supplies linked to the Covid-19 pandemic, including vaccine provision via the Vaccine Maitri programme, and elaborated in detail the Indian investments in Sri Lanka and highlighted a number of areas and initiatives in Sri Lanka that may be of interest to Indian investors that includes the automotive components, the apparel industry/fabric parks, the IT sector, pharmaceuticals, and education.
Baglay, in his remarks emphasised the importance of private sector participation and highlighted that due to proximity, familiarity, and longstanding relationships between the two sides, Indian business and industry are the best prepared to cooperate with Sri Lanka. He also noted that rapid completion of bilateral projects would promote investor confidence and economic growth. While outlining the full nature and breadth of Indian investments in Sri Lanka, he identified stable and predictable policies as the key to promoting economic connections.
Baglay said India was ready for a 21st-century economic partnership to usher in sustained and rapid growth and 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, transportation, real-estate, health, education, and agribusiness.
Wanigasekara spoke about investment opportunities in Sri Lanka as well as the regulatory and tax environment for investors.
Representatives from three Indian firms HCL, IOCL, and Ashok Leyland with successful on-going investments in Sri Lanka spoke and participated in a virtual panel discussion on investment experiences in Sri Lanka as well as their efforts to expand their business in Sri Lanka particularly in the context of the current pandemic.
(Venkatesh Iyer)