The Board of Investment of Sri Lanka recently hosted a 14-strong delegation from the IMC Chamber of Commerce and Industry.
IMC Chamber of Commerce and Industry has organized its flagship event ‘India Calling’ Business Delegation to Sri Lanka from February 25-27, 2018.
The delegation visiting Sri Lanka was on a mission to look at opportunities for investment in the Island. Its leader Dr. Lalit Kanodia, President of the IMC and Chairman of the Datamatics Global Services Ltd Knowledge Centre in Mumbai expressed his confidence in Sri Lanka and saw many opportunities for economic interaction between India and Sri Lanka.
India Calling delegation was organized in Sri Lanka due to the vast potential for doing business with Sri Lanka. The IMC is of the view that a number of trade agreements signed between India and Sri Lanka such as Indo Sri Lanka Trade FTA (ISFTA), SAARC Preferential Trade Agreement (SAPTA), South Asian Free Trade Area (SAFTA) and Asia Pacific Trade Agreement (APTA), will deepen India’s trade and investment links with Sri Lanka. Also, India is one of the top 5 export markets for Sri Lanka.
The potential sectors for business in Sri Lanka are: Logistics, Infrastructure, Education, IT / BPM, Cosmetics, Textiles & Accessories, Tourism, Export Manufacturing, Real Estate, Affordable Housing and Agriculture and Fisheries.
The IMC delegation consisted of representatives from Podar Enterprise (Education, skill development, sports education), Eudora Enterprise LLP (Cosmetics and skin care products), Packam Controls Private Limited (Aluminum Products) Business Opportunities Club (Builders and property development), Coverstro (India) Private Limited (Polymer products manufacture), Ivory Soap Works Ltd (personal care products), Hindustan Electric Motors (Various type of Motors) Hyva India Pvt Ltd., (Hydraulic Products, Cranes), MIT World Peace University (Private Education) and Sirocco Partners (Investment Banking and Financial expertise).
The BOI team consisting of Ms Nilupul De Silva, Director (Promotion), Mr. Dilip Samarasinghe, Director (Media & Publicity) and Mr. Manilal Ranasinghe, Deputy Director (Promotion) briefed the Indian delegation on the opportunities that are currently available in Sri Lanka and the country’s target sectors for investment.
The IMC has around 2700 direct members and includes diverse section of public and private limited companies and over 220 trade and industry associations.
It is one of India’s leading Chamber of Commerce and Industry with a 110 year history and it reaches around 200,000 businesses In India, covering a wide range of Industries.
