Though India is investing several million on developing over 12 international ports, the three deep-sea Sri Lankan ports could still be productive, said Deputy Minister of Policy Planning and Economic Development Dr. Harsha De Silva.
Speaking at a seminar at Lakshman Kadirgamar Institute he said after being in isolation for several years Sri Lanka is now engaging with the world and this is why GSP Plus and other incentives have come Sri Lanka’s way.
This would be a tremendous advantage for the future economy of Sri Lanka. Meanwhile keynote speaker of the event Dr Ganeshan Wignaraja said that Sri Lanka can benefit from China’s proposed One Belt, One Road initiative. He said that both China and India would be major global players that would dictate terms in global economy. Wignaraja said that China though has slowed down was growing around 10% annually in terms of economic growth, while India is averaging around 6% annually. He also said that the world economy which was slowing down has showed signs of picking up and today the growth is around 3.7%. He also said that china had around 158 million US dollars of FDI from 2000 to 2016 and today there is a shift where China is also investing more outside its country. He said that similarly several Indian companies too are going global and are investing overseas.
There are over 200 Indian IT companies doing business in India.
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