India says it is time for trade expansion

Jan 28, 2015 (LBO) – India’s Deputy High Commissioner says with the political changes in Sri Lanka ,it’s high time for both countries to expand the trade from goods to investment and service exchanges. Indo-Sri Lanka relations have been historic and diverse and with the new changes in Sri Lanka, relations can move towards new and stronger levels, Arindam Bagchi, Deputy High Commissioner of India to Sri Lanka said.

The new government led by HE the President Maithripala Sirisena and Hon Prime Minister Ranil Wickremesinghe is in a real, genuine path for economic engagement and we praise this determined outlook

It is now time to expand from our current goods trade to investment and service exchanges as well.

We are very keen to expand trade in these new ways. The great bilateral trade dispute resolution mechanism we now have is one of the leading advantages of Indo-Lanka FTA.

Total trade between Sri Lanka and India stood at 3.63 billion dollars in 2013 data showed.

Exports from Sri Lanka to India was 543.3 million dollars while total imports from India was at 3.09 billion dollars.

More than 60 percent of Sri Lanka’s exports to India were under Ind