The relationship between India and Sri Lanka is more than 2,500 years old, spread across culture and trade.
Sri Lanka is one of India’s largest trading partners in the SAARC.
India is a major source of foreign direct investment in Sri Lanka.
India is one of the largest sources of tourists visiting to Sri Lanka.
India has helped build critical infrastructure projects in Sri Lanka.
FDI inflows to India from April 2000-March 2021
Bilateral trade during fiscal 2020-21
Indian expatriates are living in Sri Lanka
Rank out of 190 countries in the World Bank's 2020 Ease of Doing Business Index, Sri Lanka offers high-margin opportunities.
Sri Lanka is located at the intersection of the world's most import sea trade routes between Asia, and Africa, Europe, and the Gulf.
Sri Lanka offers investment opportunities in fuel retail, IT, financial services, infrastructure, telecoms, tourism, food processing, etc.
Sri Lanka is among the major recipients of development assistance from India US$3 billion, including US$560 million purely in grants.
Trade between the two countries has grown rapidly after the entry into force of the India-Sri Lanka Free Trade Agreement in 2000.
The Union Cabinet in February 2020 approved the Signing and Ratification of the Protocol amending the Agreement between India and Sri Lanka for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income.
During the Summit, the Heads of State identified 'Mitratva Magga' as the foundation for bilateral relations. Cooperation in Counterterrorism initiatives, socio-economic development, infrastructure, Ayurvedic medicine among others was discussed.
During the telephone conversation, the leaders examined the impact of COVID-19 on the economy, and committed to increasing bilateral activity in the private sector. Both nations agreed to continue medical cooperation in the light of the pandemic.
Conducted from October 19-21 2020, SLINEX 2020 will serve as the Eighth edition of Indo-Sri Lankan navy exercises. Aimed at sharing best-practices in maritime security, the exercises will oversee the use of Chetak helicopters and Indian Navy Advanced Light Helicopter (ALH) and Sri Lankan vessels Gajabahu and Sayura.
The Meeting saw the identification of three MoUs for signing at the upcoming BIMSTEC Meeting in Sri Lanka : (i) MoU on Mutual Cooperation between Diplomatic Academies/Training Institutions of BIMSTEC Member States, (ii) Memorandum of Association on the Establishment of BIMSTEC Technology Transfer Facility (TTF) in Colombo and (iii) BIMSTEC Convention on Mutual Legal Assistance in Criminal Matters. Sectors for bilateral cooperation were also identified for ratification.
India's Exports and Imports to Sri Lanka
Source: Department of Commerce
Values in US$ Million
|3||India’s Total Export||310,338.48||262,291.09||275,852.43||303,526.16||330,078.09|
|8||India’s Total Import||448,033.41||381,007.76||384,357.03||465,580.99||514,078.42|
|13||India’s Total Trade||758,371.89||643,298.84||660,209.46||769,107.15||844,156.51|
|17||India’s Trade Balance||-137,694.93||-118,716.67||-108,504.60||-162,054.83||-184,000.33|
+91-11-2301-0201; 2301-0202; 2301-0203; 2301-7498
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36-38, Galle Road,
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Shri Prem Kumar Nair
+94-47-222-2507 / +94-77-3868-443
Shri Atul Aggarwal
Maize (corn), other than seed (100590)
Malt extract; oth. food preps. of flour/groats/meal/starch/malt extact [see … (190190)
Other wheat and meslin (100199)
Semi-milled/wholly milled rice, whether or not polished/glazed (100630)
Milk in powder/granules/oth. solid form, unsweetened, fat content by wt. >1 … (040221)agriexchange.apeda.gov.in
Food preps., n.e.s. (210690)
Mixes & doughs for the preparation of bakers’ wares of 19.05 (190120)
Preparations for infant use, put up for rs (190110)
Prepared foods obt. by the swelling/roasting of cereals/cereal prods. (190410)
Sauces & preps. therefor, n.e.s.; mixed condiments & mixed seasonings, n.e. … (210390)
Garlic, fresh/chilled (070320)
Onions & shallots, fresh/chilled (070310)
Potatoes other than seed potatoes, fresh/chilled (070190)
Fish preparations; mackerel, prepared or preserved, whole or in pieces (but not minced) (160415)
Fish; dried, whether or not salted but not smoked, other than edible fish offal, other than cod (Gadus morhua, Gadus ogac, Gadus macrocephalus) (030559)
Fish; frozen, n.e.c.in heading 0303, excluding fillets, livers, roes, and other fish meat of heading 0304 (030389)
Fish; frozen, tuna, n.e.c. in item no. 0303.4, excluding fillets, livers, roes, and other fish meat of heading 0304 (030349)
Fish; frozen, yellowfin tunas (Thunnus albacares), excluding fillets, livers, roes, and other fish meat of heading 0304 (030342)
Export: US$ 140.83 million (70 varieties – Sapphire, Ruby, Cats eye, Garnet, Aquamarine, Tormaline)cbsl.gov.lk
Here are the leading sectors of opportunities for foreign investors
South City Projects is planning a US$400m real estate development in Colombo.
Dabur has set up a fruit juice manufacturing plant US$17m in 2013.
Sri Lanka's Brandix is to set up a garment city in Visakhapatnam for US$1b.
Apparel brand MAS Holdings has set up a manufacturing base in India
Hospitality brand Aitken Spence runs a hotel in Chennai, India