India - SL bilateral trade netted US $ 5 B in 2011
India-sri Lanka economic relations hit a record high last year with bilateral trade earnings hitting the US $ five billion mark, the High Commission of India said in a release.
Issuing a press release, the High Commission reported that a large group of Indian businessmen were visiting Sri Lanka for the Expo 2012. According to Export Development Board officials, Indian participation in EXPO 2012 was one of the largest recorded with the participation of over 200 business visitors. Their presence was supported by the Confederation of Indian Industry (CII), Southern Gujarat Chamber of Commerce & Industry, Indian Importers Association, All India Rubber Industries Association, Andhra Chamber of Commerce and INDIA-ASEAN-SRI Lanka Chamber of Commerce and Industry.
Apart from visiting the EXPO the Indian delegation had a wide range of B-to-b meetings with members of the Ceylon Chamber of Commerce, Federation of Chambers of Commerce and Industry of Sri Lanka as well as other Chambers.
The members of the business delegation from CII met Rishad Bathiudeen, Minister of Industry and Commerce on Thursday (29) where they had reiterated the
Mr. P. Kumaran, Deputy High Commissioner for India said that the economic and commercial relationship between the two countries was now stronger than ever and had reached record levels in 2011
commitment of Indian Industry towards Sri Lanka as a priority destination for Indian investment. In his remarks, Mr. P. Kumaran, Deputy High Commissioner for India said that the economic and commercial relationship between the two countries was now stronger than ever and had reached record levels in 2011, with bilateral trade between two countries almost touching the US$ 5 billion mark. He noted that India had been a leading Foreign Direct Investment (FDI) source for Sri Lanka during the past two years with about 150 million USD in 2011.
As a follow up to the meetings with Minister Bathiudeen in December 2011 in Colombo and again in Hyderabad (India) in January 2012, CII once again reiterated their offer to assist the Government of Sri Lanka in identifying and developing investment proposals through a consultancy firm; providing support by mobilizing experts for capacity building of Self Help Groups (SHGS) and facilitating enterprise creation for micro entrepreneurs; offer of training 200 Sri Lankan students in a 10-week programme on Software Testing for IT Diploma Holders from Sri Lanka at the Infosys Campus in Mysore.