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Sunday June 26th, 2022

Sri Lanka Ceylon Chamber chief thanks India for USS2.4bn in financial support

ECONOMYNEXT – Chairman of Ceylon Chamber of Commerce, Vish Govindasamy has thanked India for its assistance running into at least 2.4 billion US dollars as Sri Lanka faces severe balance of payments troubles due to low interest rates enforced by liquidity injections.

Considering the urgent need of the people of Sri Lanka and the Government, India had provided 2.4 billion US dollars in credits, swaps and delayed payments, Govindasamy said at a forum on India-Sri Lanka Partnership for Sustained Growth.

“India is also recognised as a key investment partner of Sri Lanka, with a number of leading Indian firms having established a business presence in Sri Lanka through investment linkages,” he said

Govindasamy said there were opportunities for India to invest in sectors like pharmaceuticals, IT, tourism and leisure, logistics, apparel, food processing, electronics, medical devices and automobile components. (Colombo/Mar23/2022)

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