Sri Lanka keen on Indian investment

19 November 2011: The Sri Lankan government has set a target of $3 billion (around Rs. 13,500 crore) FDI inflow into the country by 2015, of which 15-20 per cent is expected from India as the country has already attracted FDI worth $516 million (approx Rs. 2,628 crore) from various countries. The trade between the two countries is expected to touch $900 million (approx Rs. 4,585 crore).

During January-October this year, the Sri Lankan government granted approvals to nine Indian projects with an estimated investment of $168 million (around Rs 756 crore). Since the end of its 25-year civil war in 2009, the country has been working to improve the investment climate, including making fiscal and tax reforms under the guidance of the International Monetary Fund. The top investments include Cairns India - oil exploration, Bharti Airtel, Indian Oil, Piramal Glass, Tata group - Tata Communication, Taj Hotel, Ashok Leyland, Ultra Cement, Ceat, L&T and Asian Paints.

Source: Business Standard