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India–SL bilateral trade surges by 70 per cent

27 January 2012 04:54 am - 7     - {{hitsCtrl.values.hits}}

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Trade between India and Sri Lanka surged by more than 70 per cent in 2011 over the previous year, touching an all-time high of $5 billion, Indian High Commissioner Ashok K. Kantha has said.

Speaking at a function to mark the Republic Day at the India House here on Thursday, he said Indian companies had invested more than $100 million in Sri Lanka.

He highlighted the vast growth in India's development assistance and the growing recognition that Indian projects were being completed in a timely and efficient manner.

Referring to the memorandum of understanding signed for the construction and repair of 49,000 houses under a grant assistance of $260 million, Mr. Kantha said this was perhaps one of the largest projects of its kind undertaken by India in a foreign country.

Special train

He said the Indian Railways would launch a special train, ‘Damba Diwa Vandana,' to take Sri Lankan pilgrims from Chennai to all major Buddhist sites in India.

The train would operate from next month.

He also announced the launch of the High Commission's Facebook page (www.facebook.com/hcicolombo) to provide an interactive platform for its various activities. Mr. Kantha and other officials of the High Commission paid homage to the fallen soldiers of the Indian Peace Keeping Force (IPKF) at a ceremony held at the IPKF memorial here.

To commemorate the Republic Day, danseuse Aditi Mangaldas and her troupe presented ‘Rhythm and Sound,' a contemporary Kathak performance. Sponsored by the Indian Council of Cultural Relations, the troupe has already performed at Galle and Kandy and will perform in Jaffna later this week. (Source: The Hindu)
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  Comments - 7

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  • Nodrog Saturday, 28 January 2012 05:10 AM

    Then stop pressuring us to allow your fishermen to fish in our waters. You tried it illegally and it didn't work so now you are using political force. By the way, we still have China if you persist in forcing your will on us.

    Nodrog Saturday, 28 January 2012 05:17 AM

    India has never been fair when dealing with us. They've always bullied us to accept deals majorly beneficial to them. It's never been a mutual discussion and agreement but always a threat to accept their deal, or else!!!

    Sammy Friday, 27 January 2012 11:26 AM

    Even muslims of minority denominations (like Shiites) are not safe in Pakistan, what to talk of other religions. It is a terrorist state and there is religious intolerance. The buddhist temples preserved there are just archeological pieces and not revered like in India and Sri Lanka. There was no "Hindu" terrorism in Sri Lanka but a "Tamil" one (which included christians as well), quite unlike the "Islamic" terrorism one finds in Pakistan. The Sri Lankan cricket team had a taste of this a couple of years ago.

    Muneer Friday, 27 January 2012 05:19 AM

    why are we doing business with India? Mind your own business India. We will do business with Pakistan our Eternal friend. Pakistan is not a racist country like India. Pakistan has preserved Buddhist temples in Pakistan and have helped us in our war against the fascist Hindu terrorists from India. Pakistan is Sri Lanka's only friend. India is only interested in bullying you. I urge all patriotic Sri Lankans to boycott Indian products and only buy Pakistan products. We helped you defeat the Hindu terrorists. Not the Indian Hindu people.

    Rasa Rajeswaran Friday, 27 January 2012 09:25 PM

    Leave aside religion, race and politics. To import such a large percentage of basic items ranging from food and agricultural products to manufactured industrial products is not in the interest of the economics of the country, when we can produce these items locally, creating jobs, skills and in the process developing the country, not to mention the most needed foreign exchange, at a time of international and local economic crisis. We need to think of the long term consequences and the future of our grand children.

    Amit Kumar Friday, 27 January 2012 07:14 AM

    Please go ahead and boycott our products. But if we decide to return the favor, your economy might be in trouble. India is not a failed state like Pakistan, we are willing to do business, but we have got options. Sri Lanka is not an import country for us from economic POV.

    Sinhala modaya Saturday, 28 January 2012 02:04 AM

    We should understand and mind our own business.


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