TRADE
- Sri Lanka’s 2nd largest trading partner and 3rd largest export destination.
- USD 3.6 billion bilateral merchandise trade in a pandemic-induced 2020.
- Manifold increase in trade since the signing of the bilateral FTA in 2000.
- More than 60% of Sri Lanka’s total exports to India have benefitted from the FTA.
- 5% of India’s exports to Sri Lanka have used the FTA provisions.
Investments
- India is one of the largest sources of Foreign Direct Investment in Sri Lanka.
- Presence of a number of leading Indian companies in Sri Lanka.
- FDI from India to Sri Lanka is estimated to be USD 1.7 billion over the last 15 years
- FDI is likely to go up to USD 2.5 billion soon.
Fueling Sri Lanka’s economic growth: Indian companies
Adapting to Evolving Circumstances
- Continuous adaptation.
- A recent example is the establishment of vehicle assembly facilities by Indian vehicle
- manufacturers in the country.
Job creation
- Continued creation of jobs.
- Creation of more than a thousand jobs by HCL, a well-known Indian technology company.
- More than 60% are fresh graduates.
