The Sunday Leader

India Keen On Heavy Projects In Sri Lanka

An Indian business delegation visiting Sri Lanka has said that large scale corporate of their team are keen on heavy projects in Sri Lanka including tourism infrastructure.

The 14-member CII delegation, led by Ramesh Mutha (Mohan Mutha Exports Ltd), observed that in the post – FTA period, Indo-Lanka trade had risen rapidly. “Indian firms and their joint ventures in Sri Lanka not only help fill local demand but even have become part of Sri Lanka’s exports back to India. The large scale corporates in our delegation are keen on heavy infrastructure projects here including tourism infrastructure, plug and play IT parks and highways. We are also ready for joint ventures in healthcare, and high end education. We believe that it is time to introduce joint Indo-Lanka tourism projects. It’s also great news that Sri Lanka economy is reporting strong GDP growth rates at 7% and rising,” said Mr. Mutha on Friday, May 23.

The Indian delegation is on a-four day tour to Colombo seeking investment and B2B opportunities. Among the large scale corporates in the delegation are Infrastructure Development Corporation Ltd (government owned infrastructure consultancy firm), GMR Group (heavy infrastructure including airports and highways), Astrotech Ltd (steels), Mohan Muhtha Exports (diverse activities), BBC Universal Exports (high end construction material), Getech Equipment (drilling), along with Roquette Riddhi Siddhi Ltd (confectionary), and SOBIS Software (energy sector software) and four firms in textile industry – Carona Knitwear, SRG Apparels, Gomathy International, Myco Pranav Creations.

Astrotech Ltd is looking to set up a steel manufacturing unit, Infrastructure Development Corporation Ltd wants medium sized education and healthcare projects which can involve PPP, and SOBIS Software wants partnerships in energy/power sector software development. CII was founded 116 years ago and is a non-government, industry led and industry managed body representing over 8,100 organisations (direct membership) from the private and public sectors, SMEs and MNCs, and commands an indirect membership of over 90,000 companies from around 400 national and regional sectoral associations.

According to the Department of Commerce of Sri Lanka, total bilateral trade between the neighbours stood at $ 4.086 billion in 2012. In 2013, it was $ 3.36 billion, as a result of the bill of imports from India falling by 12%, helping Sri Lanka’s trade balance to improve.

1 Comment for “India Keen On Heavy Projects In Sri Lanka”

  1. jeevaka

    Go visit India , I am not impressed, they don’t know how to do any business , Every Indian enterprise knows how to cheat with a smile.
    They are not sincere in anything. Worse than others.
    Srilanka should not trust anybody, Chinese Japs, West, the Indians business is ok but don’t give up your guard.
    Indians are penny pickers so stingy.

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