Mega India Trade Fair kicks off in Kandy

Thursday, 27 November 2014 00:00 - - {{hitsCtrl.values.hits}}

The Mega India Trade Fair, organised by India’s apex 96-year-old Chamber of Chambers, ASSOCHAM was inaugurated in Kandy by Central Province Governor Tikiri Kobberaduwa and A. Natarajan, Assistant High Commissioner of India, at the Kandy City Center, Kandy.

ASSOCHAM Sr. Director D.S. Rajora, Commercial Attache Murugeshan Ramaswamy, ASSOCHAM Expo Council Chairman Vinay Sharma, Central Province Governor Tikiri Kobbakaduwa, Assistant High Commissioner of India, A. Natarajan, ASSOCHAM Expo Council Vice Chairman Rajaneesh Mehrish, Sri Lankan Federation of Industrial Associations Chairman Jagath Dissanayake The fair exhibits the Indian products and technologies coupled with B2B sessions. In a statement, ASSOCHAM Exhibition Council Chairman Vinay Sharma said 80 Indian companies are participating at this exhibition from diversified sectors of business and economy and many of them are expected to sign business contracts with their counterparts in Sri Lanka. Major products for where opportunities are available for both sides include technology, textiles, gems and jewellery, handicrafts, food processing, education, energy, engineering, power, water, medical and wellness, construction, etc. Sri Lanka is the closest neighbour of India and the relationship between the two countries is historical and 2,500 years old. Building on the rich legacy of historical linkages, ASSOCHAM is making efforts for development of strong economic and business partnership. India and Sri Lanka enjoy a robust trade and investment relationship. Sri Lanka is India’s largest trade partner in South Asia and India in turn is Sri Lanka’s largest trade partner globally. The bilateral trade amounted to $ 4.5 billion in 2013-14. India emerged as the fourth largest overall investor in Sri Lanka in 2012. India’s main investments are in the areas of petroleum, telecom, vanaspati, copper and other metal industries, real estate, banking and financial services, IT, and food processing. Education is another important area of cooperation between India and Sri Lanka. ASSOCHAM projects the India-Sri Lanka bilateral trade to reach eight billion in the next three years. There are huge untapped opportunities waiting for business tie ups both sides in diversified sectors. This is a historical visit of such a large Indian business delegation led by ASSOCHAM, said Sharma. ASSOCHAM plans a series of such business promotion activities in different parts of Sri Lanka and also inviting Sri Lankan companies to visit India and explore the business potential waiting for them in India.