As many as 50 Indian companies have participated in 'India Investrade 2012: An exposition and Buyer Seller Meet on Realty Construction & Construction Materials' held at the BMICH in Colombo from 26-28 April, 2012.
Minister of Economic Development Basil Rajapaksa was the chief guest at the inaugural programme of the exhibition along with the High Commissioner of India Ashok K. Kantha.
Indian Chamber of Commerce, Kolkata with the support of Indian Ministry of Commerce & Industry, and in association with Sri Lanka Ministry of Construction, Engineering Services, Housing and Common Amenities, Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) and the National Chamber of Commerce of Sri Lanka (NCCSL) organized the three-day event.
The exhibition was held to promote and facilitate trade and business engagement in construction and construction material sector, provide a platform to introduce the Indian entrepreneurs with their Sri Lankan counterparts and promote the process of business engagement, exchange of ideas and facilitate G2G, G2B and B2B interaction on various issues pertaining to the construction industry of both the countries.
Addressing the event Minister Rajapaksa has said that the Sri Lankan economy has been growing over 8% percent in past two years, which has resulted in high growth in the construction sector.
He has said that India has achieved a lot in the construction sector and the Indian companies can play a role in the Sri Lankan market by partnering with Sri Lankan companies.
Commenting on the India-Sri Lanka Free Trade Agreement, Minister Rajapaksa has said that FTA has been helpful in rapid growth of bilateral trade and invited the Indian companies to invest in Sri Lanka in sectors like construction, tourism, education and skill development.
Indian High Commissioner Ashok K. Kantha in his address has highlighted the robust trade and investment links between India and Sri Lanka.
He has said that bilateral trade has increased by over 65% last year to reach close to US$ 5 billion. Indian companies have invested close to US$ 150 million in Sri Lanka last year. He said that both countries are witnessing a boom in real estate segment and construction industry, which provides opportunities for enhanced cooperation.