Business News | We Are Seeing Momentum for Indian Investment in Sri Lanka, Lot of Interest in Hospitality, Ports, Logistics: Ceylon Chamber of Commerce Chairperson
Get latest articles and stories on Business at LatestLY. Sri Lanka is looking to deepen and strengthen trade ties with India and there is momentum for Indian investments, Ceylon Chamber of Commerce Chaiperson Krishan Balendra has said and noted that there is a lot of interest in areas like hospitality, ports and logistics.
Mumbai (Maharashtra) [India], May 14 (ANI): Sri Lanka is looking to deepen and strengthen trade ties with India and there is momentum for Indian investments, Ceylon Chamber of Commerce Chaiperson Krishan Balendra has said and noted that there is a lot of interest in areas like hospitality, ports and logistics.
"We see an opportunity now to deepen and strengthen the partnership. The Sri Lankan economy, where we saw a crisis in 2022, has recovered and stabilised, and we have seen a couple of years of good growth and all the macroeconomic indicators are now positive. We are also seeing momentum for Indian investment," he said on the sidelines of India-Sri Lanka Business Forum organised by CII in partnership with the Ceylon Chamber of Commerce.
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"There is a lot of interest in areas like hospitality, ports and logistics, and we thought, as the Ceylon Chamber of Commerce, that this was an opportune moment to visit India and engage with the private sector to look at opportunities for partnerships and collaboration," he added.
Secretary (Protocol, FDI, Diaspora & Outreach) and Chief of Protocol in Maharashtra government Rajesh Ravindra Gawande said India and Sri Lanka have excellent bilateral relations.
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"We are neighbours, not divided by the sea but joined by the sea. Both Maharashtra and Sri Lanka have a very natural partnership, because we are in similarly placed situations... That bridge of commonality, of cultural linkage, is very strong. In terms of economic linkage, I would say that this cultural commonality automatically translates to commercial opportunity," he added.
Mahishini Colonne, High Commissioner of Sri Lanka to India, said regional partnerships would help strengthen resilience in the region.
"Regional partnerships, proximity, trusted partnerships are valuable and whatever partnerships that we can create now will define the resilience of this region," she said.
The forum focused on trade, investment and sectoral partnerships, while providing Indian businesses direct engagement with a high-level Sri Lankan delegation from diverse industries. It is expected to help both countries explore new areas of economic cooperation. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)