India ready to do more for SL - Indian HC
Prepared to address Lankan concerns :
The Economic and Technology Cooperation Agreement (ETCA), proposed by
Prime Minister Ranil Wickremesinghe when he visited India in September
last year, would also focus on sectors such as capacity building,
technology, vocational training, IT and tourism, among others, which
would benefit Sri Lanka, Indian High Commissioner Y. K. Sinha said.
“The recent visit of the Minister of Development Strategies and
International Trade, Malik Samarawickrama to India was very successful
and the keenness to move forward was palpable on the sides,” he said at
the eighth Annual General meeting of the Indo-Lanka Chamber of Commerce
and Industry in Colombo recently. He said that the India-Sri Lanka Free
Trade Agreement has been beneficial to both countries. The first round
of negotiations on the ETCA will be held next week.
From left: Tilak de Zoysa of Carson Cumberbatch, Past
President ILCCI, Romesh David of John Keells Holdings, Vice
ations PLC, President, ILCCI, Biju Jacob of ICICI Bank, Vice
President ILCCI, Ayoni Waniganayake, Senior Assistant
Secretary General, Ceylon Chamber of Commerce. |
“India is aware that greater economic integration requires moving in
an asymmetric manner – India is doing more than is expected by Sri
Lanka.
India was prepared to move at a pace which Sri Lanka is comfortable
with and address Sri Lankan concerns as well as take measures to
facilitate Sri Lankan exports to India,” he assured.
Noting that India had attracted FDI amounting to US$ 40 billion in
2015-16, the High Commissioner said that Sri Lanka needed to take
advantage of its proximity to India by linking into value chains and
supply chains. ILCCI, representing the apex business stakeholders should
play the lead role in this.
ILCCI had led a 12-member delegation to the ‘Make in India Week’ in
February and should mount more such delegations to India.
High Commissioner assured full facilitation in the activities of
ILCCI. Highlighting the new and transformative phase in India-Sri Lanka
bilateral relations. He said said that four high level bilateral visits
took place within the first 90 days of the formation of a new government
in Sri Lanka in January 2015.
The stream of high level visits had continued and enhanced bilateral
economic and commercial engagement were an important agenda point in all
these meetings. The Group Managing Director of Watawala Plantations,
Vish Govindasamy was re-elected as the President of the ILCCI.
Govindasamy outlined many activities carried out by ILCCI in the recent
past, with the trade promotion mission to India parallel to ‘Make in
India’ week being the highlight.
Twelve companies, both Indian and Sri Lankan based in Colombo
participated in the Mission to Mumbai, and developed successful business
bilateral business contacts.
Romesh David, President, Transportation Group of John Keells Holdings
PLC and Biju Jacob, Country Head of ICICI Bank were re-elected as the
two Vice Presidents of the Chamber.
Mano Selvanathan, Group Director of Carson Cumberbatch PLC remains as
the Immediate Past President.
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