Sri Lanka seen ‘priority destination’ for Indian investment

Mar 30, 2012 (LBO) – Indian companies are keen to invest in Sri Lanka with the island’s Expo 2012 international trade drawing a large group of Indian businessmen, the High Commission of India said. The commitments were made during talks between a visiting team from the Confederation of Indian Industry and Sri Lankan commerce and industry minister Rishad Bathiudeen.

Indian participation is one of the largest in EXPO 2012, with over 200 business visitors taking part.

The Indian delegation also held talks with members of Sri Lanka’s Ceylon Chamber of Commerce, Federation of Chambers of Commerce and Industry of Sri Lanka and other chambers.

Bathiudeen also met the members of All India Rubber Industries Association which is ready to import raw rubber from Sri Lanka and has also offered to set up an export-oriented synthetic rubber manufacturing plant in Sri Lanka, the statement said. Indian industry is committed to making Sri Lanka a ‘priority destination’ for Indian investment and wants to improve trade and economic relations between the two countries, it said in a statement.

The Confederation of Indian Industry (CII) has offered to help the Sri Lankan government identify and develo