India, Sri Lanka to build economic bridges

[Highlights ]

* Indian IT industry to reach USD 200 billion

* More access to Lankan products in Indian market

* Further liberalization of services

India and Sri Lanka have opportunities in building economic bridges in various industries such as IT, aviation and tourism. In a few years time, the Indian IT industry will be a USD 200 billion industry. India will need a more skilled labour pool to cater for this demand. Sri Lanka could cater for this demand said Steria India Limited Chairman Dr Mukesh Aghi at a panel discussion on Building Economic Bridges between Sri Lanka and India.

Sri Lanka needs to have policies to provide incentives for IT training institutes to train a skilled workforce, he said.

MAS Holdings Chairman Mahesh Amalean said that Sri Lanka needs to have more access to the Indian market. Negotiations with India need to focus on extending market access in India as well as building economic bridges among two countries.

Speaking about building economic bridges, SriLankan Airlines Chairman Nishantha Wickremasinghe said that there are 85 flights between Sri Lanka and India per week. There is potential to increase this number to 100 flights.

Further liberalization of air services will benefit both countries and facilitate trade among two countries.

India is also in the process of promoting inbound tourism. The National Carrier SriLankan Airlines entered into a MoU with India for promoting India’s tourism industry. SriLankan Airlines provides technical training for the industry which is essential for the development of the regional aviation industry. FICCI Tourism Co- Chairman Himmat Anand said Sri Lanka’s hospitality industry is of higher standards than the Indian industry. The Indian hospitality industry has so much to learn from Sri Lanka.

Sri Lanka also has good experience on handling two or three star beach resorts. In 1980’s these beach resorts were successfully operated. Sri Lanka has opportunities to commence these beach resorts in India.

Jetwing Chairman Hiran Cooray said that Jetwing will look into the business opportunities in South India. They are looking at high end tourists and focusing on tourists spending per day.

India’s Airtel CEO Amali Nanayakkara said at the discussion that the Sri Lankan telecommunication industry needs to have customer friendly policies to make the industry more vibrant.

(AS)