More Lankan firms willing to do business with India
In the aftermath of the successful Indo-Lanka CEO Forum held last week, more top Lankan CEOs are vying for partnership with Indian businesses.
Four top Lankan corporates have shown interest to enter the upcoming Trincomalee’s Manufacturing Special Economic Zone. “Almost all Lankan CEOs at the Forum were keen to further trade with India. More importantly, they wanted closer links with Indian biz –after all, it is Business-toBusiness trade that will make the difference,” said Kulathunga Rajapaksa, Managing and Executive Director of Samson International PLC.
Kulathunga Rajapaksa was speaking to Media of Ministry of Industry and Commerce on Thursday. The one day long India-Sri Lanka CEOs Forum, held on 04 August was set up to develop a road map for increased cooperation and mutually beneficial economic partnership between the two countries, and saw participation of top business leaders from India and Sri Lanka.
Rishad Bathiudeen, Minister of Industry and Commerce commended the Ceylon Chamber of Commerce (CCC), the Federation of Indian Chambers of Commerce and Industry (FICCI) and the High Commission of India in Colombo for the successful initiative. Already two top CEOs -WKH Wegapitiya, the Chairman of Laugfs Holdings Ltd and Asoka Hettigoda, Managing Director of Hettigoda Group- on August 8 revealed that they are keen to enter JVs with Indian firms in rubber based automotive components and also enter the upcoming Trincomalee’s Manufacturing Special Economic Zone.
Speaking on his interest in partnership with Indian biz, Kulathunga Rajapksa added: “My firm is keen on a joint venture (JV) with Indian firms in the rubber sector. In that, we are keen to enter the upcoming Manufacturing Special Economic Zone (MSEZ) by India for automotive components. We like to manufacture rubber based components in this for Indian market.” Samson International PLC is a conglomerate and a market leader for footwear and bicycle tyres.
Mano Selvanathan, Group Director of Carson Cumberbatch said: “The CEO Forum brought many aspects of Indo-Lanka trade to the discussion. We have not decided on any sectors for JV but we will definitely explore promising JVs with Indian firms in areas of our operations.” Carson Cumberbatch operates in brewery, oil palm plantations, property development, investment portfolio management and mutual funds.
Tilak de Zoysa, President of Associated Motorways (AMW) the largest and oldest automobile conglomerate in Colombo owned by Al-Futtaim Group, UAE, said that AMW is also ‘very keen’ for JV with Indian firms. “We are very keen to enter the proposed Trinco’s MSEZ. With our automotive expertise, we can manufacture rubber based automotive components and become part of the supply chain to Indian car makers. We already distribute Indian made Maruti in Sri Lanka.”
The only Lankan woman CEO to attend the Forum, Ramya Weerakoon, Chairman of Ramya Holdings, the exporter of apparels and horticulture, expressed her strong interest in partnership with Indian firms. “I believe the Forum is a very positive event to boost bilateral trade. And I am impressed with Minister Anand Sharma’s professionalism and keenness. For me, there is potential for JV in the hospitality trade and we are keen for a suitable partner. We also are faced with shortage of skilled workers and therefore we are ready to receive Indian workers for our operations. We can also provide them with any required training as needed.”
MP Wickremasinghe, Chairman, Ceylon Biscuits Ltd, said he always favoured to go to India. “We all looked forward to this CEO Forum. I am not looking for JVs now but want to increase sales there.”