Manu P Toms, Hindustan Times
Mumbai, November 25, 2012
Peacetime Sri Lanka is a favourite investment and
export destination for Indian firms. Bilateral trade jumped from $3 billion in
2009-10 to $5.1 billion in 2011-12, according to Sri Lanka Customs. Trade is
skewed in favour of India, with India exporting goods worth $4.3 billion to Sri
Lanka in
2011-12, comprising more than 22% of the island
nation’s imports. From $78 million in 2009, when Sri Lankan internal strife
ended, Indian investment in Sri Lanka almost doubled to $147 million in 2011,
Sri Lanka Board of Investment data shows.
India is the largest trade partner and one of the top
two investors in Sri Lanka.
“Bilateral trade and Indian investment in Sri Lanka
should grow multifold in coming years,” said Adi Godrej, chairman, Godrej group
and president, Confederation of Indian Industry.
Tata, Bajaj, Godrej, Bharti and RPG have established
their presence in Sri Lanka. Major Indian investments are Bharti Airtel’s $200
million and $15 million by Dabur. Britannia, Ultratech, Ambuja Cement and Ashok
Leyland made in-roads.
Recently, CII stepped up its engagement with half a
dozen visits by high level delegations of Indian industrialists in three years.
The Sri Lankan minister for economic development, Basil Rajapaksa, is an
invitee to CII’s ‘partnership summit’ in January.
http://www.hindustantimes.com/business-news/WorldEconomy/India-Sri-Lanka-boost-trade-investment-ties/Article1-964159.aspx
