‘Indian business and industry best suited to partner with Sri Lanka:’ Indian Envoy
Stable and predictable policies were the key for promotion of economic interactions, the Indian envoy stated
Indian business and industry are perhaps the best suited to partner with Sri Lanka by the virtue of proximity, familiarity, and longstanding ties between the two sides, High Commissioner of India to Sri Lanka Gopal Baglay said on Wednesday.
In his remarks at the country session dedicated to India at the Sri Lanka Investment Forum (SLIF) 2021, Baglay emphasized India’s readiness for an economic partnership for 21st century to usher in sustained and rapid growth and shared prosperity, said a statement of the Indian High Commission.
Outlining the comprehensive nature and scope of Indian investments in Sri Lanka, and the importance of private sector participation in it, he noted Indian business and industry are perhaps the best suited to partner with Sri Lanka.
The Indian High Commissioner underlined that 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.
He mentioned that expedited implementation of bilateral projects would enhance investor confidence and boost economic growth.
Stable and predictable policies were identified as being the key for promotion of economic interactions, the Indian envoy stated.
At the country session dedicated to India at the Sri Lanka Investment Forum (SLIF) 2021, the Indian High Commissioner was joined by Sri Lanka’s State Minister for Regional Cooperation Tharaka Balasuriya.
Minister Balasuriya spoke about significant Indian investments in Sri Lanka and highlighted various sectors and projects in Sri Lanka that could be of interest for Indian investors.
Areas outlined by the Sri Lankan Minister included automobile components, apparel industry/fabric parks, IT sector, pharmaceuticals, and education. He also thanked India for its support in terms of medical supplies related to Covid-19, specially the supply of vaccines under the Vaccine Maitri Programme.
Acting High Commissioner of Sri Lanka to India Niluka Kadurugamuwa and Vice-Chairman of CCC Vish Govindasamy also spoke at the country session.
Director General of BoI of Sri Lanka
Pasan Wanigasekara gave a presentation on investment opportunities in Sri Lanka along with the regulatory and tax framework for investors.
The Forum was jointly organized by the Board of Investment (BoI) of Sri Lanka, the Ceylon Chamber of Commerce (CCC), and the Colombo Stock Exchange.