Business
Sri Lanka’s petro-chemicals to be introduced to Indian market through Tamil Nadu start-up
By Hiran H.Senewiratne
For the first time, an Indian e-commerce wholesale startup for emerging brands and distributors in Sivagangai, Tamil Nadu, will introduce Sri Lankan petro- chemicals to the Indian market, CEO of Tamil Nadu’s Vinayagam Associates T. Vinayaga Murugesan said.
” We are now in the process of connecting leading and emerging brands in India to reach and expand their customer, dealer and distributor network across India successfully. When I met Sri Lanka’s Deputy High Commissioner in Chennai, Dr. D. Venkateshwaran, he requested me to explore the possibility of marketing some top Sri Lankan brands in Tamil Nadu and all over India through our ‘DigiRiver.in’, an e-commerce platform, Murugesan told The Island Financial Review.
Murugesan added: ‘Lubricants, such as, engine oils, hydraulic fluids, gear oils, transmission oils, greases and other such lubricants are used in various applications in the agriculture sector to protect them from wear and tear caused due to continuous usage and also in the motor segment and specially for three- wheelers.
‘After a tour of Sri Lanka, I found that Sri Lanka has a vibrant lubricant market and the products are economical and are of high quality.
‘The Sri Lankan lubricant market is expected to grow at more than 3 per cent each year after it suffered a setback due to the pandemic lockdowns in the country.
‘Leading companies, such as, Chevron Ceylon Ltd., IOC and Laugfs Holdings Ltd., have assembly plants and blending plants in Sri Lanka that offer products for both the automobile and industrial sectors, with export capabilities to other regions.
‘Most recently Ideal First Choice (Pvt.) Ltd, a wholly-owned subsidiary of the Ideal Group, has teamed up with Gulf Oil Lubricants, India to bring lubricants to the Sri Lankan market.
‘India is one of the leading countries in the world in terms of vehicle production. In 2021 the total production volume of vehicles in India was around 22.7 million units, which includes around 400,000 three-wheelers.
‘Despite the manufacture of lubricants for these, India still imports around 40% and in Tamil Nadu alone over 25 per cent of lubricants are imported. I plan to take a sizable share of these exports from Sri Lanka as it would be cheaper for the end user. This is because we could get benefits under several bilateral agreements with Sri Lanka.
‘I intend to commence lubricant imports from Sri Lanka to India soon and distribute them all over India via our e-commerce portal. We also have a strong transport system to back up this distribution all over Sri Lanka and this process will also help Sri Lanka to add a new item to its export basket and gain much needed dollars for the country.’
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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