Lanka can become gateway to Indian market, investors - HSBC official
Anjana Samarasinghe
CONFERENCE: Sri Lanka has the potential to be the gateway to
the Indian market for foreign investors, said General Manager and Global
Co-Head Commercial Banking for the HSBC Group Margaret Leung at the HSBC
Corporate Leaders' Conference yesterday.
The FTA between both countries has resulted in increased trade among
the two countries. Sri Lanka also provides attractive incentives for
investors. This will be an ideal opportunity for investors to enter the
Indian market through Sri Lanka,' she said.
Despite the tsunami Sri Lanka was able to gain 6.2% economic growth
this year. In Sri Lanka the inflation rate has declined and there was a
huge boom in the stock market activities. For market expansion or
diversifying business we need to focus on large markets. Local companies
need to concentrate on markets such as India and Pakistan.
Sri Lanka needs to understand the business culture and customer needs
of these countries, Leung said. Leung said there is a huge potential for
garments, IT and tourism sectors in Sri Lanka.
India is one country that attract the highest number of investors.
India also has continued commitments for reforms which could create an
investor friendly environment.
Director/ Chief Executive of Dialog Telekom Dr Hans Wijayasuriya said
business leaders need to transform to certainty from uncertainty.
"Corporates should have clear understanding about their business and
it will pave the way for them to identify their competitors," he said. |