Focus on Southern India: Promotion of trade and investment links in Trivandrum

Monday, 25 June 2018 00:00 - - {{hitsCtrl.values.hits}}

The Trivandrum Chamber of Commerce and Industry, the Indo Sri Lanka Chamber of Commerce and Industry and the High Range Development Society of India organised a business interactive session together with the Sri Lanka High Commission in India, at the Trivandrum Chamber of Commerce and Industry on 16 June.

The main objective of the session was to share information on Sri Lanka’s economic and business developments as well as to explore opportunities for expanding trade and investment, specifically between southern states of India and Sri Lanka.

The President of the Trivandrum Chamber of Commerce and Industry, Raghuchandran Nair, in his welcome remarks highlighted the long standing trade and economic relations between Sri Lanka and India, and reiterated the importance of exploring business potential in Sri Lanka under the Indo Sri Lanka Free Trade Agreement. He stated that Trivandrum Chamber of Commerce and Industry will be signing a MOU with the Ceylon Chamber of Commerce in Sri Lanka to further strengthen trade and investment collaboration between the members of the two Chambers.

Delivering the keynote address at the business interactive session, Sri Lanka’s High Commissioner to India Chitranganee Wagiswara expressed her appreciation to the Chambers for the initiative taken to organise the event. She highlighted the recent economic developments in the country and outlined the initiatives of the Government of Sri Lanka to create an economy, firmly based on foreign and domestic private investment.

She emphasised on the progressive steps taken by the government to facilitate, protect and promote the trade and liberal investment climate in Sri Lanka, by introducing reforms relating to trade and investment.

High Commissioner Wagiswara pointed out that Sri Lanka is one of the competitive business centres in the South Asian Region and there are compelling reasons for the investors from the Southern States of India to locate their business entities in Sri Lanka. She invited a delegation from Trivandrum to participate in the Sri Lanka Investment and Business Conclave to be held from 19-21 June in Colombo to explore investment opportunities in Sri Lanka.

S. Krishna Kumar, Former Cabinet Minister, Government of India and Chairman of Indo-Sri Lanka Chamber of Commerce and Industry, speaking at the business interactive session, encouraged members of the Chamber to consider setting up operations in Sri Lanka by taking advantage of the preferential duty concessions offered under the Indo Sri Lanka Free Trade Agreement. He highlighted the potential industry sectors that Indian Corporates could explore for investments.

The event received an overwhelming response from the Indian enterprises engaged in the IT industry, solar power, commodity trading and media. The event included a power point presentation made by Upekkha Samaratunga, Minister Commercial of the Sri Lanka High Commission on Investment Opportunities in Sri Lanka.

The Sri Lanka High Commission in New Delhi organised a series of Roadshows in India to promote the Sri Lanka Business and Investment Conclave held in Colombo from 19 to 21 June, and over 29 delegates have registered as participants to attend the business conclave.