State Minister urges more Indian investment | Daily News

State Minister urges more Indian investment

State Minister Tharaka Balasuriya highlighted various sectors and projects in Sri Lanka that could be of interest for Indian investors. They included automobile components, apparel industry/fabric parks, IT sector, pharmaceuticals, and education. He also thanked India for its support in terms of medical supplies related to COVID-19, specially the supply of vaccines under the Vaccine Maitri Programme.

The State Minister was participating in a country session dedicated to India on June 9 virtually at the Sri Lanka Investment Forum (SLIF) 2021 organised by the Board of Investment (BoI) of Sri Lanka, the Ceylon Chamber of Commerce (CCC), and the Colombo Stock Exchange.

The dedicated session comprised remarks by several dignitaries including High Commissioner of India Gopal Baglay Regional Cooperation State Minister Tharaka Balasuriya and a panel discussion involving representatives of three Indian companies with successful ongoing investments in Sri Lanka – HCL, IOCL (LIOC), and Ashok Leyland.

The High Commissioner emphasized India’s readiness for an economic partnership for 21st century to usher in sustained and rapid growth and shared prosperity. He underlined that future of economic and commercial bilateral partnership could focus on areas such as ports, shipping, connectivity, logistics, energy/renewable energy, IT, tourism and hospitality, transport, real-estate, health, education and agriculture.

The High Commissioner underlined the importance of private sector participation and noted that Indian business and industry are perhaps the best suited to partner with Sri Lanka by the virtue of proximity, familiarity, and longstanding ties between the two sides.

He mentioned that expedited implementation of bilateral projects would enhance investor confidence and boost economic growth. Stable and predictable policies were identified as being the key for promotion of economic interactions.

Acting High Commissioner of Sri Lanka to India Niluka Kadurugamuwa and CCC Vice-Chairman Vish Govindasamy also spoke.

BoI Director General Pasan Wanigasekara gave a presentation on investment opportunities in Sri Lanka along with the regulatory and tax framework for investors.

The three Indian companies shared their investment experience in Sri Lanka and spoke about their efforts to expand the business in Sri Lanka.


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