FCCISL and Indian High Commission Chart Path for Economic Cooperation; Focus on Digital Economy, SME Support, and Rupee-to-Rupee Bilateral Trade
The President and the Board of Directors of the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) convened with the High Commissioner of India to Sri Lanka His Excellency Santosh Jha to discuss a bilateral economic framework. The meeting focused on advancing SME development, creating a unified startup ecosystem, driving digital economic integration, strengthening regional food security, women-led businesses, young entrepreneurs, exports and imports, Rupee-to-Rupee bilateral trade, investments and joint ventures. Key strategic areas of cooperation discussed during the high-level engagement include:
Regional SME Support & Development
The leaders explored collaborative programs to upskill and empower regional small and medium-sized enterprises (SMEs) across Sri Lanka. The focus centers on improving access to national and global regional markets, capacity-building, and leveraging cross-border commercial ties to foster grassroot economic resilience.
Joint Startup Ecosystem
Both parties discussed to joint engagements aimed at developing the Sri Lankan startup ecosystem. Discussions emphasized cross-border mentorship, incubation support, and knowledge-sharing, including bridging regional innovation networks (such as regional tech and entrepreneurship corridors).
Advancing the Digital Economy
Recognizing India’s leadership in digital transformation and digital payments, the Indian High Commissioner shared insights on how Sri Lanka can harness this momentum. The dialogue highlighted utilizing digital public infrastructure and digital payment systems to modernize local service delivery and boost digital financial inclusion.
Food Security and Food Processing
The Indian High Commissioner highlighted India’s robust progress in agricultural self-sufficiency and food security. The leaders discussed specific pathways where India can assist Sri Lanka in enhancing its domestic food processing capabilities, reducing post-harvest losses, and ensuring long-term agricultural sustainability.
Bilateral Rupee-to-Rupee Transactions
Discussions highlighted the untapped potentials and the benefits of converting bilateral transactions into direct rupee-to-rupee settlements, which can be beneficial to entrepreneurs in terms of foreign currency fluctuations. Noting a critical knowledge gap within Sri Lanka’s import-export and banking sectors, FCCISL committed to working closely with the Indian High Commission and the stakeholders to educate businesses and banks on mitigating foreign exchange risks and easing trade barriers.
Together with the Indian High Commissioner to Sri Lanka, His Excellency Santosh Jha; the Counsellor (Economic & Commercial), Ms. Devika Lal took part in the discussion.
Together with the FCCISL President Dr. Rohitha Silva; the FCCISL Senior Vice President Mr. Abbas Kamrudeen, the Past President FCCISL, Mrs. Shirly Jayawardena, the Director FCCISL Mr. Thusith Wijisinghe, the Director FCCISL Mr. Dhammika Lokuge, the Director FCCISL Dr. Vignesh Kularatnam, the Director FCCISL Mr. Jagath Mullevithana, and the Secretary-General (Actg.) FCCISL Mr. Tilan M Wijesooriya took part in the Discussion.
Both the FCCISL and the High Commission of India committed to continued dialogue and actionable partnerships to ensure these strategic objectives translate into tangible economic benefits for both nations – Sri Lanka and India.