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More Indian investments this year:
Indo-Lanka trade tops US $ 4b
Shirajiv Sirimane
Indo-Sri Lanka trade has shown a very robust growth of 20 percent in
the last ten months of this year. The trade between the two countries
had passed the US $ 4 billion mark during the period.
Economic and Commercial Counsellor of the Indian Embassy, M. Manish
told Daily News Business that Indian investors are upbeat in investing
in Sri Lanka. Last year they were the biggest foreign investors to Sri
Lanka with Indian investments being US $ 516 million. This year so far
46 projects were initiated by Indian entrepreneurs in Sri Lanka.
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SLF Chairman Prof. Ranjith Bandara addressing the event. SLF
Consultant Manil De Mel, Executive Director and Partner
PricewaterhouseCoopers India, Anand Dikshit, Director Manish B.
Arawal, Strategic Enterprise Management Agency
Chairman Willey Gamage, Counsellor (Economic and Commercial) of
the Indian Embassy, M. Manish and invitees look on.Picture by
Sumanachandra Ariyawansa |
Addressing the ‘Indian Business Approach and Way Forward for Sri
Lanka’ CEO Forum organised by Sri Lanka Foundation (SLF) and Strategic
Enterprise Management Agency (SEMA) last Friday at the SLFI, he said
that India also sent the highest number of tourists to the island in
2010.
The guest speaker of the event, PricewaterhouseCoopers India
Executive Director and Partner Anand Dikshit said Indian entrepreneurs
have identified Sri Lanka along with Vietnam, Cambodia and Africa as
emerging economies to invest.
“Political stability is a key to this and Indian investors are also
pleased that Sri Lanka has got its micro economic fundamentals right,”
he said.
In addition the educated work force, quick air and sea connectivity
and most importantly not having a different time zone makes Sri Lanka
more attractive, he said.
Increasing per capita income which is reflected in the fast growing
middle class, and increasing urban populations and reflects in Sri
Lanka’s GDP growth in 2010 at 8% is yet another attraction in Sri Lanka.
Strong logistical hub and important port location connecting Far East to
Middle East and to West and a high literacy rate of almost 90% allowing
easy access of talent pool for business and services such as IT and BPO,
financial services is yet another advantage.
The objective of this forum was to understand the principles
underlining the Indian approach to business in the international context
and apply the strategies therein to forge ahead in our business
enterprises.
“This perhaps will be the starting point for both Sri Lankan and
Indian business communities to enter into meaningful and fruitful
alliances for mutual benefits for both countries, SLF Chairman Dr
Ranjith Bandara said.
Media sponsors for the event were Sri Lanka Rupavahini Corporation
and Daily News.
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