Relations between India and Sri Lanka are transforming in to modern business cooperation
25 October, 2016
Global business is aware of the growing cooperation between India and Sri Lanka. These historically important allies plan multiple infrastructural projects to boost their competitiveness on the South Asian markets.
Recently discussed projects introduced in Sri Lanka include: i) highway network starting from Colombo to the Northern parts of the country and ii) renovation of the important Palali airport. Indian businesses focus mainly on energy and transport projects, in collaboration with industrial giants such as GMR.
Healy Consultants also argues that the increasing interest in business projects by Indian companies is partly because of the Chinese Colombo Financial City project. Maybe the fear of losing influence in Colombo has pushed Indian businesses to increase their efforts in leading or participating in infrastructural investment in Sri Lanka. Especially Tata Group is particularly interested in joining forces with Chinese investors in developing this grand project in Colombo.
This all being said, the icing on the cake of bilateral cooperation of these two countries will be the conclusion of an expanded economic partnership and services exchange. "We are cognizant that the economic asymmetry between us and India is going to increase in the future, when the latter emerges as a global player in an increasingly multi-polar world," noted the Sri Lankan Prime Minister Ranil Wickremesinghe in a recent meeting.
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