Indian CEOs to promote Indian investments in Sri Lanka

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Colombo, September 13: Members of the Sri Lanka-India Society comprising Indian CEOs have assured that they will promote Indian investments in Sri Lanka as the time is ripe for expanding collaboration in several sectors.

They stated this when they called on Prime Minister Dinesh Gunawardena at the Temple Trees on September 13 to discuss ways and means of expanding bilateral economic ties including trade and investment.

The Prime Minister, pointing out growth in government-to-government development cooperation, thanked the Indian CEOS for their efforts to promote private sector Indian investments.

Kishore Reddy, Managing Director, Platinum Realty Investments and President, Sri Lanka India Society, said there is enormous potential for investments in agriculture, tourism, information technology, renewable energy, and education sectors.

As Sri Lanka has emerged out of the recent economic crisis and restored stability, it is a good time to invest as there is enormous scope for foreign direct investment in a host of sectors, such as the manufacture of automobile accessories, value addition to mineral sands, agriculture products such as manufacture of tomato puree, dairy industry through expansion of farmer cooperatives in addition to information technology, tourism, and renewable energy.  

T.S. Prakash, Country Head of a Group of Companies, said Sri Lanka could expand the dairy sector taking lessons from the success story of Amul in India by using farmer cooperatives for production and collection of milk.

The Indian CEOs, referring to their experience of doing business in Sri Lanka for decades, said that entrepreneurs in India States are willing to invest in Sri Lanka to manufacture products for the huge Indian market.

Kishore Reddy thanked the Prime Minister for the continuous support extended to the India-Sri Lanka Society for its activities promoting cooperation between the two countries.

The Sri Lanka India Society, established in 1949 is one of the oldest and largest friendship societies in Sri Lanka dedicated to strengthening economic cooperation.

Mr A A M Illiyas, Prsident’s Counsel, Mr Kishaan Kanag–Isvaran, and Dr Chula Gangoda of the India-Sri Lanka Society and the Prime Minister’s Private Secretary C Kurruppu and Media Advisor Sugeeswara Senadhira also took part in the discussion.


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