India's leading corporates to exhibit at Expo 2012

Indian industries and businesses will participate in the Sri Lanka Expo 2012. Leading Indian investors are planning to pioneer rural BPO in Sri Lanka and are also eyeing Sri Lanka's mini hydro power, pharmaceutical manufacturing and infrastructure sectors, including Colombo's upcoming MRTS (Mass Rapid Transit System), Minister of Industry and Commerce Rishad Bathiudeen said. Sri Lanka also encourages Indian firms to use Sri Lanka-Pakistan FTA to enter Pakistani markets.

Minister Bathiudeen was speaking after his meeting with the visiting 13-member business delegation from New Delhi-based Confederation of Indian Industry (CII)recently. CII is an MoU partner of Ceylon Chamber of Commerce.

The 13-member delegation consisted of S. Gopalakrishnan (Infosys), TT Ashok (Taylor Rubber (Pvt) Ltd), S.Chandrashekar (Bhoruka Power Corporation Ltd), S. Balasubramaniam (MARG Ltd), Naveen Bansal (Srei Infrastructure Finance Ltd), Pranab K Bose (Waterford Institute India), Biju V Jakob (ICICI Bank), Sreekant Lekshmivarahan (TVS & Sons Ltd), Ranjan Mallick (Alstorm Projects India Ltd), Giridhar Rao (Griffith Laboratories Ltd), Vineet Varma (Brigade Hospitality Services Ltd), S. Sen (Confederation of Indian Industry) and GD Sharma (Confederation of Indian Industry).

The CII delegation consists of rpresentatives from leading Indian corporates and is a two-day mutual trade and business linkage promotional tour to Sri Lanka. Among the corporates in the delegation were Waterford Institute India (the $ 7.5 Mn net assets valued multinational Indian education NGO operating in seven countries), ICICI Bank (ranked 12th in the list of Indian companies based on audited total income), Infosys (estimated six billion revenue for 2011, and ranked 27th in the list of Indian companies based on audited total income), TVS and Sons Ltd ($ 450 m), Griffith Laboratories Ltd, Alstorm Projects India Ltd and Brigade Hospitality Services Ltd.

"Bilateral trade between both countries have always played a significant role in India-Sri Lanka historic relations," Minister Bathiudeen told the delegation. "A milestone in Sri Lanka's exports history is 'Sri Lanka Expo 2012' to be held in March 2012 in Colombo. The mega exhibition will be showcased in Sri Lanka after a 15-year lapse. I invite high level participation from India and more specifically from the Confederation of Indian Industry for this mega event".

According to the Department of Commerce bilateral trade between the two countries has been increasing over the years, from $ 656 m in 2000 to $ 3,013m (3 billion) in 2010 recording an impressive five-fold growth.

India, which ranked as the 16th largest buyer of Sri Lanka in 2000, emerged as the third largest buyer of Sri Lankan products in 2003 and continues to be so.

Accepting Minister Bathiudeen's invitation, Mission Leader S. Gopalakrishnan who is also the Vice President of CII (Executive-Co Chairman of Infosys) said: "We are confirming participation of a wide ranging Indian delegation under the CII banner" and added: "The Confederation of Indian Industry (CII) also wants to link Indian investors and businesses to Sri Lanka in its new growth phase. We can also support in the improvement of Sri Lankan manufacturing and its quality aspects."

"Indian manufacturers can use the promising Sri Lanka-Pakistan FTA to enter the Pakistani market", Minister Bathiudeen told the delegation. "Indian industries are invited to use Sri Lanka's developing hub outlook to manufacture and re-export their products to the global markets including Pakistan," Minister Bathiudeen said.

CII 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. CII was founded 116 years ago.

Gopalakrishnan also handed over the official invitation extended by Indian Commerce and Industry Minister Anand Sharma, inviting Sri Lanka to the "'New Age Innovation Partnership" themed Hyderabad Partnership Summit to be held from January 11-13 which was accepted by Minister Bathiudeen. "Industrial delegations from over 30 countries, besides captains of Indian industry will attend this event.

The Summit would be a platform to explore various facets of innovation contributing to future growth and also planned to form business alliances with global companies" Gopalakrishnan said.

Members of the CII delegation said that they are keen to enter into several sectors in Sri Lanka.

"We are keen to pioneer rural BPOs in Sri Lanka. Also keen to enter mini hydro power sector, pharmaceutical manufacturing sector, agri sector, education and infrastructure sectors" revealed Gopalakrishnan.