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| Wednesday, 21 May 2003 |
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Indian companies to invest, find partners to expand business By Shirajiv Sirimane Some of the Indian companies attending the International Industrial Fair at the new BMICH is hoping to invest in Sri Lanka and also find partners to expand their business. The Fair which began last Saturday has 10 Indian exhibitors out of nearly 100 stalls. Greenfield Distilleries Mangalore, CEO, Ravindra Poojary said that the company has long term plans for Sri Lanka which include the setting up of a plant in the country. "First we are hoping to find a partner to market our entire range of products which is manufactured for the middle class." He said that the company has received several positive offers and would tie up with a local partner soon. Poojary said that the company also has an export market in Mexico and Brazil and added that Sri Lanka would be their next market. He said that Greenfield Distilleries had been in operation for 20 years and they produce six brands including whisky (John Bud.) for which the malt is being imported from Scotland. Miki Steel Works Ltd of Bangalore Director M. Sarkar said that they see a expanding building industry market in Sri Lanka. "Our Company is involved in the manufacture of high carbon steel for the heavy construction industry." He said that the Indian railway purchases 90% of concrete sleepers from their company and added that they are hoping to get involved in this sector in Sri Lanka. "We see a good market in this area as well." Two companies in Mangalore Gurucharan Industries, involved in the manufacture and export of Plastic and Processing Machines and Spare parts and Satrflex Laminators (Pvt) Ltd, manufacturers of flexible packaging material, rolls and pouches are also hoping to find partners to expand their business to Sri Lanka. President of the Sri Lanka Chamber of Small Industry (SLCSI) Aloy Jayawardane the organisers of the event to commemorate their 40th anniversary, said that the fair was a success. He said that the foreign participants were taken to the BOI on Monday and were given a briefing on the opportunities and advantages of investments in Sri Lanka. He said that some Indian companies have shown an interest in investing in the Coal power generation and the Steel industry. He said that the Indian delegation was also briefed on the Sri Lanka India FTA and the Deputy Director General BOI, Santhust Jayasuriya had assured the investors that even if their is a change of government incentives offered to investors could not be changed. The Chamber has also organised a 'Karmantha Kumari' beauty pageant among industrial workers to mark their anniversary and the international exhibition and the Pageant will be held on May 22 at 7 p.m. The line Ministry for the exhibition is the Ministry of Industries. The partners of the international fair are Ministry of Foreign Affairs, Ministry of Enterprise Development, Industrial Policy and Investment Promotion, Ministry of Tourism, Export Development Board, National Craft Council, Board of Investment, Sri Lanka Convention Bureau and the Industrial Development Board. The International Industrial Fair will conclude on May 22 and Jayawardane appealed to Medium and Small sector businessmen to attend this event since it is a golden opportunity for them to find Indian partners. |
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