Amid growing economic cooperation and regional integration, promoting Indian investments in Sri Lanka has taken on renewed significance, with over 400 Indian companies currently operating in the island across sectors including petroleum, manufacturing, hospitality, ICT, financial services, and pharmaceuticals.
India stands as one of Sri Lanka’s top sources of foreign direct investment (FDI), contributing an estimated cumulative investment of over USD 1.7 billion by end-2023. Notably, Indian ventures have played a critical role in revitalizing Sri Lanka’s post-crisis recovery, with recent examples including energy infrastructure projects and the expansion of Indian hotel chains.
In this context, a high-powered delegation from the Confederation of Indian Industry (CII), comprising CEOs from key sectors such as manufacturing, healthcare, logistics, renewable energy, education, and tourism, convened with Sri Lankan business leaders for a strategic roundtable discussion at the ITC Ratnadipa in Colombo on 30 June.
The roundtable was jointly organized by the Ceylon Chamber of Commerce and the Indo-Lanka Chamber of Commerce and Industry (ILCCI), in collaboration with the High Commission of India. The CII delegation was led by Immediate Past President and ITC Ltd. Managing Director Sanjiv Puri, while the Ceylon Chamber delegation was headed by its Chairman, Krishan Balendra.
Deliberations at the event centered on strengthening bilateral trade, improving regulatory compatibility, and catalyzing cross-border investment flows. Participants emphasized the need for fostering sector-specific collaborations through joint ventures, knowledge-sharing platforms, and continued dialogue between industry stakeholders.
Indian High Commissioner to Sri Lanka Santosh Jha highlighted New Delhi’s commitment under its “Neighbourhood First” policy, which prioritizes stronger and more generous engagement with neighboring countries. “Sri Lanka is a central part of that policy, and our approach remains non-reciprocal and inclusive,” he remarked.
Echoing this sentiment, Krishan Balendra said, “We are fortunate to be located next to the world’s fastest-growing economy. What matters now is how we leverage that proximity by building private-sector partnerships with Indian businesses.”
CII’s Sanjiv Puri added that global economic shifts are creating new opportunities for regional collaboration. “This is a moment for India and Sri Lanka to work not only for mutual benefit in our respective domestic markets but to co-create solutions for the global market as well,” he stated.
ILCCI President M. Raghuraman concluded the session by underlining the importance of continued engagement. “The progress we’ve seen is due to the determination of our business communities. Forums like this are invaluable for nurturing long-term partnerships,” he said.
The roundtable closed with a commitment to maintain momentum through structured engagement via chamber networks and regular business exchanges. Both sides expressed optimism about translating discussions into tangible investments, reinforcing the strategic value of India-Sri Lanka economic collaboration.
