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'Indo-Lanka trade to grow at 8%'

The Hindu Business Line:  June, 2010

Kolkata: The bilateral trade between India and Sri Lanka is estimated to grow at over eight per cent in 2010. The trade between the two countries stood at $3,267 million in 2008 and has been growing at five-to-six per cent over the last few years, according to Mr Prasad Kariyawasam, Sri Lankan High Commissioner.

"Trade between the two countries was growing at a healthy rate till last year when we witnessed a slowdown due to the global financial crisis. However, this year we are hopeful of posting a growth of about eight per cent," Mr Kariyawasam said while speaking at a meeting on enhancing Indo-Sri Lankan business co-operation organised by the Bengal National Chamber of Commerce and Industry here on Tuesday.

Sri Lankan Government is looking at attracting medium- and small-scale companies from India to invest in their country, he said. The total cumulative investments from India were at about $347 million till 2008.

"Our strategy is to attract small and medium sized companies in sectors such as apparel, electrical accessories, rubber products, industrial chemicals and gems and jewellery among others," he added.