India to expand engagement with certain economically promising areas   

Visiting Indian External Affairs Minister Dr. S. Jaishankar has assured Sri Lankan business leaders that India would like to expand its engagement with the Sri Lankan economy and referred to certain promising areas such as pharmaceuticals, IT, vocational training, skill development, etc. in this regard. 

He noted that views expressed by local business leaders would be brought to the attention of relevant ministers on the Indian side, the Indian High Commission announced in a media release.

He gave this assurance at an interaction meeting with several Lankan business magnets including Mahesh Amalean, Chairman/Co-Founder, MAS Holdings; Krishan Balendra, Chairman and CEO, John Keells Holdings; and Ms. Kimarli Fernando, Chairperson, Sri Lanka Tourism on Thursday.

Umesh Gautam, President, Indian CEO Forum, Sri Lanka; Vish Govindasamy, Group MD, Sunshine Holdings PLC; Ashroff Omar, Group CEO, Brandix Lanka Limited; A. Mohan Pandithage, Chairman and Chief Executive, Hayleys PLC and Dr. Hans Wijayasuriya, Chairman, Ceylon Chamber of Commerce were also present.

The visiting Minister also expressed confidence that the neighbourhood will be the priority region for India when it starts sharing COVID-19 vaccines internationally. He also briefed the participants about efforts in India related to various aspects of development, manufacturing and logistics for administering COVID-19 vaccines in India.

The business leaders appreciated bilateral initiatives aimed at reviving economic growth in Sri Lanka and conveyed their desire to work closely for reinforcing India-Sri Lanka trade and business ties.

There was considerable interest regarding early-resumption of tourist travel from India and cooperation on vaccines for COVID-19.

Certain other ideas put forward by business leaders included the establishment of a bilateral forum to discuss business-related issues, greater utilization of the Indo-Sri Lanka Free Trade Agreement and the possibility of an expanded FTA between the two sides, conclusion of a Mutual Recognition arrangement on standards, air-bubble arrangement for business travel, and the possibility of Indian investments in the socio-economic domain in Sri Lanka that would help in boosting local employment.

It was also felt that India could play an important role in supporting manufacturing in Sri Lanka through technology, training, and investments.