“We are very keen to promote further economic cooperation between Sri Lanka and India. Bilateral trade increased many-folds and we are confident that our trade would touch new heights in coming years. We wish CEPA negotiations to be completed soon and are optimistic CEPA would open doors in the service sector and investments would flow from both sides” said Udayan Ganguly, who is leading the powerful nine member Confederation of Indian Industry (CII) delegation to Expo 2012.
Ganguly said this when the delegation made a courtesy call on Rishad Bathiudeen, Minister of Industry and Commerce at the Business Centre of Expo 2012 venue. Ganguly is the Business Head of International Business of Dabur India Limited, India’s fourth largest FMCG firm with revenues of US$910 Mn and market cap of US$ 4 billion.
Among the business sectors in the delegation were auto manufacturing, IT, tourism and hospitality, FMCG and electronic products.
Mr. Ganguly continued: “I would also like to suggest that we pay attention to the development of human resources to meet the increasing requirement of the two countries. We are pleased to note that Sri Lankan economy is doing well and economic growth will touch over 7% in the current year.
Referring to investments he said Sri Lanka is a priority destination for Indian companies and many leading companies have already set up joint ventures (JVs) in Sri Lanka in various fields.
Sri Lanka is a great opportunity for tourism and we would like to explore opportunities in tourism for partnership, Mr. Ganguly further said.
Minister Bathiudeen, while thanking the CII delegation for visiting the Expo 2012 show, said: As a result of the Mahinda Chinthanaya vision, in 2011 Sri Lanka reported 8.3% GDP growth. The economic resurgence is set to continue this year. We invite more and more Indian businesses to invest here and partner in Sri Lanka’s upswing.