Efforts to promote wide-ranging South Indian investments in Sri Lanka

‘However, SL most famous among Indian tourists for only casinos and other entertainment forms’

By Hiran H.Senewiratne

Lankan authorities are looking at promoting in Sri Lanka, South Indian investments in sectors, such as, trade, tourism, education and South Indian culture. But currently Sri Lanka is only famous for casinos and other forms of entertainment among Indian tourists, Sri Lanka’s Deputy High Commissioner in Chennai Dr. D. Venkateshwaran said.

” We are now looking at promoting and attracting South Indian industrialists to Sri Lanka in different investment areas, including automobile accessories, pharmaceuticals, food and agricultural sectors, with the specific aim of using Sri Lanka as a value- addition centre, targeting also the use of the free trade agreements signed by Sri Lanka, Deputy High Commissioner Dr.D.Venkateshwaran told The Island Financial Review.

Venkateshwaran added: “Sri Lanka has signed free trade agreements with India, Pakistan and Singapore and is currently negotiating an FTA with the PRC. The FTAs with India and Pakistan cover only trade in goods. The agreements provide for duty-free entry as well as duty preferences for manufactured and agricultural goods.

“I am now negotiating and discussing with major South Indian industrialists to come and open up cement factories, electrical car manufacturing plants, sugar factories and mining plants in Sri Lanka.

“At present 14 flights are connected and we are planning to promote more budget airlines, especially to the Ratmalana airport, to attract more South Indian tourists and industrialists to Sri Lanka.

“Sri Lanka has enormous potential to promote itself as a major tourist destination among South Indian tourists because of the historical and cultural linkages. However, unfortunately, travel agents are taking them to only Kandy and Katharagama.

“My diplomatic jurisdiction covers states, such as, Tamil Nadu, Andhra Pradesh, Telangana, Kerala, Karnataka and Pondicherry, which consist of 300 million people. And those people’s buying power is very high with the rapid growth in the South Indian region, especially Chennai.

“Sri Lanka has a lot to offer South Indian tourists, especially the Ramayana trail, and Chilaw is one of the popular and important Ramayana-related places in Sri Lanka as it is home to the popular Munneswaram Temple and Manavari Temple. These two temples are the main Ramayana- related places which can be promoted as part of the Sri Lanka Ramayana Tour.

“India, being a highly technologically developed country, its agricultural and technological know-how can be transferred to Sri Lanka. At present I am in the process of discussing with South India’s largest agricultural organization for training Sri Lankan agricultural personnel and bringing quality seed to Sri Lanka to distribute among local farmers.

“A road show will be organized for South Indian investors to promote the Port City as well. I am planning to discuss with an Indian university to come and set up one of its campuses in Sri Lanka.” Sri Lankan Deputy High Commissioner said.