Bengal businesses scout for trade, investment prospects in Sri Lanka

ECONOMYNEXT – A team of Indian businessmen from Kolkata, West Bengal, are in Sri Lanka looking for trade and investment opportunities mainly in manufacturing and services, officials said.

Commercial and economic partnerships between the two countries are growing, said Ramesh Agarwal, president of the Merchants’ Chamber of Commerce and Industry (MCCI), leading the team of 18 delegates.

“Sri Lanka is India’s largest trade partner in south Asia while India is largest for Sri Lanka globally,” he told a Sri Lanka – India business networking forum held by the Ceylon Chamber of Commerce.

“Leading Indian private companies are investing in Sri Lanka and in the last few years we have seen an increased trend of Sri Lankan investment into India, like the almost $! Billion Brandix apparel investment in Visakhapatnam.”

Agarwal said the MCCI is an old chamber from Kolkatta with 23,000 direct and indirect members and 16 affiliated associations.

The team is having business meetings in Colombo and Kandy, in the central hills, looking for both trade and investment opportunities and joint ventures, he said.

The Indian firms are involved in a range of activities from textiles and hosiery to real estate, tea, information technology, pig iron and logistics.
(COLOMBO, 20 September, 2018)

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