Lanka's economic policies praiseworthy - Prof. Chandha

by Shirajv Sirimane

Sri Lankan economy is progressing steadily and its economic policies in the recent past are praiseworthy said Member Economic Advisory Council to the Indian Prime Minister, Prof. G. K. Chandha.

In an exclusive interview to the Daily News, he said that Sri Lanka does not need foreign expertise to advise them on their economy and its principles. "The role model Sri Lanka is following is very good and basic foundations for economic development have been laid," he said.

Chandha said that the Free Trade Agreements signed between Sri Lanka, India and Pakistan too would help towards the economic growth of the region. "The region needs more FTA's to boost intra regional trade in the region," he said. He said that India is aiming an annual economic growth of 10 percent. "First quarter of the year saw India recording a 8.1 percent while in the second quarter this increased to 8.2 percent an it is increasing all the time," he said.

He said that over 90 percent of the Indian economy is being run by the SME sector and a few individuals run most of these enterprises. "They need more advanced technology and financial assistance to gain a more competitive edge and in Sri Lanka too this is a similar situation," He said that there is a road map being prepared to link South Asian countries with each other and this would lead to tremendous growth in the region. He said that the South Asian Presentational Trade agreement too would help to develop the economies of the countries.

"The ratio of women entering business is somewhat low and governments should encourage more women in the region. All countries in the region must also take more measures towards providing education in a more professional manner," he said.