CAL, Edelweiss link up to give Sri Lanka investors access to India
ECONOMYNEXT – Colombo-based Capital Alliance (CAL) group has tied up with Edelweiss Financial Services to offer Sri Lankan investors access to India’s capital markets.
Ajith Fernando, chief executive, CAL Group, said a change in government policy in 2018 allows overseas investments by Sri Lankans, till then restricted to the domestic market.
“This is a great opportunity to direct our attention to a larger market,” Fernando told an ‘India Investor Day’ forum held by CAL in conjunction with Edelweiss, one of India’s diversified financial services companies.
Its capital markets business is among the largest Indian domestic institutional broking houses.
“For the longest time, we were forced to invest excess money in Sri Lanka,” Fernando said.
“India is sitting next door with a billion-plus people, growing at seven percent and amazing stock market returns over the last 10-15 years and we are not doing much about it.”
The forum was held to announce CAL’s newest partnership with Edelweiss Financial Services to provide Sri Lankan investors access to India’s financial markets.
Sri Lankan investors can trade in stocks, debt and derivatives in India which in 2018 eclipsed China to become the world’s fastest growing economy.
CAL said that by 2040, nine out of every 10 Indian will belong to the ‘global middle class’ with its demographic dividend and impending consumer boom offering investment opportunities. (Colombo/January 19/2019)