Renewable energy project figured prominently during the India - Sri Lanka Business forum held on Monday in New Delhi addressed by President Anura Kumara Disanayake and Indian Commerce Minister Piyush Goyal.

The Business Forum was held during the President’s State Visit to India on Monday.

The President had welcomed investment in the renewable energy sector, especially in the solar and wind sectors, and said he seeks to increase the share of renewable energy in Sri Lanka’s energy consumption mix to lower the cost of electricity in the country, the Indian High Commission said.

President Disanayaka in his address had said that Sri Lanka will make itself conducive and efficient for businesses, adding that Sri Lanka is ready to open market for India.

He elaborated that developing Sri Lankan tourism is a key priority area for the new government in the coming years.

The High Commission said,  the President, additionally, highlighted minerals as a potential area of investment in the country.

Speaking of India’s strength in the ICT sector he shared that the digital economy is a focus area for Sri Lanka over the course of this decade, and invited Indian investment in the ICT sector of Sri Lanka.

Minister Goyal, mentioned that Sri Lanka has a special place in India’s Neighbourhood First Policy and that India will work shoulder-to-shoulder with Sri Lanka to support the shared prosperity of both countries.

He mentioned tourism as a potential area of collaboration. India could also play a role in expanding Sri Lanka’s renewable energy sector, and, likewise, invited Sri Lanka to be a part of India’s renewable energy journey.

Additionally, he mentioned pharmaceuticals, ICT, and the film industry as potential areas of collaboration between Sri Lanka and India. Finally, he shared that India is open to collaboration on higher education and shared that India would be open to establishing campuses in Sri Lanka. He also invited Sri Lankan universities as well as medical and engineering colleges to establish campuses in India.

The Forum hosted a gathering of 30 distinguished industry leaders from across India, representing a diverse array of key sectors.

These sectors included Tourism, Infrastructure, Energy, Pharmaceuticals, Manufacturing, Automobiles, Railways, and Finance, among others.

The participation of such eminent figures underscored the Forum's significance as a platform for collaboration, dialogue, and the exchange of ideas aimed at driving growth, fostering innovation, and strengthening partnerships across industries. The broad representation of sectors highlighted the critical role each industry plays in shaping India's economic landscape and its future development.