A high level Indian trade and business delegation is scheduled to be arrived Sri Lanka next week to coincide with the India Show on August 4-5.
The arrival of such a high level delegation for business and trade will strongly enhance the bilateral trade cooperation between Sri Lanka and India, said Minister of Industry and Commerce Rishad Bathiudeen.
In addition to Indian Commerce, Industry and the textile Minister Anand Sharma, and Bharti Mittal (Group CEO of Bharti Enterprises), the Commerce Secretary SR Rao, top Indian Department of Commerce officials, top members of Indian chamber of Commerce and Industry (CII), and business leaders of well-known Indian firms too will also be taking part.
A group of CEOs will also come with CIII delegation for the India Show. All are big companies in their own right. In addition, a Panel Discussion on "Doubling Indo-Lanka Bilateral Trade and Investment within Five Years" will also be held on 3 August at BMICH, informed M Manish, the Commercial and Economic Counsellor of Indian High Commission in Colombo.
Among the latest addition to the list of participating firms are Wipro, Bosch, Nicco Corporation, Ennore Coke, Feedback Infrastructure, Griffith Labs, Standard Chartered Bank, IL&FS Transportation Networks, Shasun Pharmaceuticals, and LifeCell. Previously, Ashok Leyland, Taj Group, Bharat Hotels, NTPC Ltd (largest state owned power utility), Suzlon Energy, Indian Oil Corporation, State Bank of India, TVS Motor Co, Punj Lloyd and Jubilant Life Sciences have confirmed their participation. John Keels Holdings, AMW, Samson International, Dilmah Tea, CIC Group, Ceylon Biscuits, Hettigoda Group, Brandix Lanka, Laughs Holdings, Bank of Ceylon, Watawala Plantations and the Unit Trust Management Co are among the top Sri Lankan corporates slated to take part in the India-Sri Lanka CEO Forum to be held on 04 August.
Sunil Bharti Mittal, India’s fifth largest dollar billionaire of Airtel fame and the Indian Commerce Minister Anand Sharma are just two renowned among the top Indian delegation coming here.
India was Sri Lanka’s topmost trade partner in the world registering $ 4.8 Bn trade (2011). According to the Department of Commerce of Sri Lanka total trade between India and Sri Lanka which stood at US $ 672 million in 2001 rose to US $ 4.871 Bn in 2011.
According to the BoI, Indian investments in Sri Lanka stood at $ 600 Mn by 2011. Today, India is among the five largest overall investors in Sri Lanka. Bharati Airtel (mobile telecommunications), Britannia (confectionary), Lanka IOC (fuel), TATA (steel & communications), Taj Hotels, Ultratech (Cements), Ambuja (Cement), CEAT (tyres), Piramal Glass and Ashok Leyland (transportation), SBI Bank, Indian Overseas Bank, Indian Bank and ICICI, Jet Airways, Sahara and Indian Airlines, ICFAI (higher education), and First Source IT are top Indian firms operating in Sri Lanka.