Indo Lanka Chamber of Commerce & Industry holds 9th AGM

From left: Sanjay Tiwari, Piramal Glass Ceylon PLC, Vice President ILCCI, Tilak De Zoysa,Carson Cumberbatch PLC, Committee Member of ILCCI, T. S. Sandhu, High Commissioner for India in Sri Lanka and the Chief Guest, Vish Govindasamy, Watawala Plantations PLC, President ILCCI, Romesh David, John Keells Holdings PLC, Vice President ILCCI and Ayoni Waniganayake, Senior Assistant Secretary General, The Ceylon Chamber of Commerce

The Ninth Annual General meeting of the Indo Lanka Chamber of Commerce & Industry (ILCCI) was held recently at Taj Samudra Colombo.

Speaking atthe occasion, Chief Guest at the Occasion, High Commissioner of India, T. S. Sandhu said, “Economic relations, have become an important element, in any bilateral relations today. However old the ties are, however strong the civilizational links are, to use Prime Minister Modi’s terminology, in his address to Ceylon Chambers, in March 2015, “economic cooperation, is often the locomotive that gives it momentum”.

The High Commissioner also stated that the MoU singed for cooperation in joint economic projects in April this year identifies specific projects in sectors such as energy, power, roads, ports, railways etc. He said India is closely working with Sri Lankan authorities for timely implementation of these projects. He also pointed out that India’s development partnership with Sri Lanka currently stands at US $ 2.6 billion and ready to strengthen further, based on Sri Lanka’s needs.

The Group Managing Director of Watawala Plantations Vish Govindasamy was reelected as the President of the Ceylon Chamber led Indo Lanka Chamber of Commerce and Industry (ILCCI) at its 9th Annual General Meeting. Addressing the membership at the AGM, Vish Govindasamy stated, “India is Sri Lanka’s third largest export destination. 

In 2016, total exports to India declined to US dollars 554 million from US dollars 643 million in 2015.  It is also significant to note that Sri Lanka’s exports to India under the India-Sri Lanka Free Trade Agreement (ISFTA), saw a decline in 2016, being US$ 375 million compared to US$ 407 million in 2015. He further stated that it is being envisaged that greater trade openness would enable export growth and diversification of Sri Lanka’s economy.

Romesh David, The President – Transportation Group of John Keells Holdings PLC was re-elected as Vice President of ILCCI, whilst Sanjay Tiwari, President/ Executive Directorof Piramal Glass Ceylon PLC was newly elected as the 2ndVice President. Mano Selvanathan, Group Director of Carson Cumberbatch PLC remains as the Immediate Past President.

The current Committee of ILCCI comprises of, Associated Motorways, Carson Cumberbatch PLC Citihealth Imports (Pvt) Ltd,ICICI Bank,Lanka IOC PLC, Tata Communications Lanka Ltd. along with the Director General of the Department of Commerceand the First Secretary of Economic and Commercial of the Indian High Commission.

The ILCCI, is registered under the Ceylon Chamber of Commerce. The Ceylon Chamber of Commerce functions as the Secretariat of the ILCCI.