PHDCCI Hosts Sri Lankan Minister: New Opportunities in Trade, Tourism, and Manufacturing

New Delhi, 26th September 2025: The PHD Chamber of Commerce and Industry (PHDCCI) hosted an interactive business session with a high-level Sri Lankan delegation led by Mr. Wasantha Samarsinghe, Hon’ble Minister of Trade, Commerce, Food Security and Cooperatives, Government of Sri Lanka. He was accompanied by Mr. K.A. Vimalenthirarajah Secretary to the Ministry of Trade, Commerce, Food Security and Cooperative Development, Government of Sri Lanka and H.E. Ms. Mahishini Colonne High Commissioner, High Commission of Sri Lanka, New Delhi. The session brought together senior officials, industry leaders, and entrepreneurs from both nations to explore new avenues of trade and investment cooperation.

Mr. Wasantha Samarsinghe, Hon’ble Minister of Trade, Commerce, Food Security and Cooperatives, Government of Sri Lanka, highlighted Sri Lanka’s economic stabilization efforts after the 2022 crisis in her keynote address. Sri Lanka has succeeded in advancing structural reforms, restoring investor confidence, and restoring macroeconomic stability in the first year of the new administration.

He presented the idea of people-public-private partnerships (PPPP) as the model for inclusive growth and emphasized the government’s emphasis on creating a production-based economy. He urged Indian investors to join Sri Lanka’s growth story, emphasizing the need to modernize agriculture, diversify tourism, increase manufacturing, and improve food security.

“India has always stood with Sri Lanka in times of need. Today, we are ready to move ahead with confidence, and this is the right time for Indian businesses to invest,” he said.

Mr. K.A. Vimalenthirarajah Secretary to the Ministry of Trade, Commerce, Food Security and Cooperative Development, Government of Sri Lanka, emphasized that bilateral trade between India and Sri Lanka currently stands at USD 5 billion annually, with strong potential for expansion. India remains Sri Lanka’s leading trading partner, supplying petroleum, pharmaceuticals, and automobiles, while Sri Lanka exports tea, rubber, textiles, and spices.

He added that Sri Lanka’s preferential access to markets such as the European Union (EU) and United States offers Indian companies an attractive opportunity to manufacture in Sri Lanka and export globally. He also announced that the Sri Lanka International Fair, scheduled for mid-2026, will serve as a platform to showcase investment opportunities.

H.E. Ms. Mahishini Colonne High Commissioner, High Commission of Sri Lanka, New Delhi, highlighted the island nation’s strategic location, just 22 nautical miles from India, along key Indian Ocean shipping routes. She underlined that India is Sri Lanka’s largest source of tourists, a major investor, and its closest trading partner.

Expressing gratitude to India for its support during the 2022 economic crisis, she said: “India and Sri Lanka share more than geography- we share destiny. Together, we can create value chains that strengthen both economies and serve global markets.”

Dr. Ranjeet Mehta, CEO & Secretary General, PHDCCI, praised the “young and dynamic leadership” of Sri Lanka’s new government and stressed the importance of deeper collaborations. He highlighted PHDCCI’s 120-year legacy, with presence in 25 states and a network of over 150,000 companies.

Dr. Mehta underscored the central role of MSMEs, noting India’s base of 65 million enterprises that drive innovation, employment, and exports. He pointed to India’s transformation in agriculture and food security, from an importer of staples to a global exporter. He also emphasized the potential of cooperatives, citing India’s 8 lakh cooperative societies and self-help groups, which support the 50% rural economy. With Sri Lanka focusing on cooperatives and production-led growth, he called this a natural area of partnership.

The session reaffirmed the deep-rooted economic and cultural ties between India and Sri Lanka. Both sides agreed that closer trade and investment cooperation would not only benefit their economies but also contribute to regional growth and stability.

“The future is about collaboration. Together, India and Sri Lanka can build a win-win growth story for businesses and people alike” was the common message at the forum.