By: Staff Writer
March 27, Colombo (LNW): Sri Lanka and India share deep-rooted economic and trade relations, with India being one of Sri Lanka’s largest trading partners and investors.
Over the years, the two nations have strengthened their cooperation through bilateral agreements, trade facilitation, and industrial collaborations, driving economic growth on both sides.
Against this backdrop, the Indo-Lanka Chamber of Commerce and Industry (ILCCI) of The Ceylon Chamber of Commerce recently hosted a discussion with Deputy Minister of Industry and Entrepreneurship Development, Chathuranga Abeysinghe, to explore Sri Lanka’s industrial growth strategy and Indo-Lankan economic ties.
The event brought together key stakeholders to discuss the Government’s vision for economic expansion and trade cooperation. ILCCI President M. Raghuraman welcomed Deputy Minister Abeysinghe and reiterated the chamber’s commitment to fostering stronger business and investment partnerships between Sri Lanka and India.
During the session, the Deputy Minister outlined the Government’s economic priorities under the latest Budget, emphasizing key areas such as infrastructure development, energy sector advancements, and digital transformation.
He also stressed the need for efficient customs and tax administration, strengthened border controls, and industry-specific policy reforms to enhance competitiveness and ease of doing business.
A broad range of industries—including IT, tourism, marine sectors, vehicle parts manufacturing, and agriculture—were discussed. Deputy Minister Abeysinghe underscored Sri Lanka’s potential to emerge as an IT hub and the critical role of export growth in driving economic development.
He reassured stakeholders of the Government’s efforts to streamline bureaucratic processes and encouraged private sector participation in shaping industry policies. He also urged businesses to collaborate as sectoral clusters to present unified recommendations for policy improvements.
The discussion concluded with an interactive Q&A session where industry representatives shared insights and raised concerns. Key topics such as skills development, access to financing, education, and the role of Free Trade Agreements (FTAs) in enhancing market access were also addressed.
The session highlighted the importance of continued collaboration between the Government and the private sector to drive industrial progress and strengthen Indo-Lankan economic ties.
