June 04, 2012 (LBO) – An ‘India Show’ will be held in Colombo from August 3, coinciding with a visit bay Indian minister of commerce and industry Anand Sharma to the island to boost trade and investment amid currency trouble in both countries. The Indian High Commission (embassy) said more than 100 Indian firms are expected to participate in the show where a food festival with wine tasting will also take place.
The event will be backed by the Confederation of Indian Industry (CII) and India’s commerce ministry.
Bilateral trade between the two countries was around 5 billion US dollars a year up 65 percent with more Sri Lankans importing Indian goods.
India is also the largest source of tourists to Sri Lanka. Sri Lanka’s state airline is one of the foreign carriers flying most often to India.
Sri Lankan and Indian citizens have traded with each other from ancient times.
But trade freedoms were systematically stolen from them especially in the second half of the last century, after native rulers gained control of a European-style state structure backed by police, customs authorities and a legislating national assembly.
In South Asia, economic nationalism and trade barriers were partly triggered by global currency