Business
Efforts to promote wide-ranging South Indian investments in Sri Lanka
‘However, SL most famous among Indian tourists for only casinos and other entertainment forms’
By Hiran H.Senewiratne
Lankan authorities are looking at promoting in Sri Lanka, South Indian investments in sectors, such as, trade, tourism, education and South Indian culture. But currently Sri Lanka is only famous for casinos and other forms of entertainment among Indian tourists, Sri Lanka’s Deputy High Commissioner in Chennai Dr. D. Venkateshwaran said.
” We are now looking at promoting and attracting South Indian industrialists to Sri Lanka in different investment areas, including automobile accessories, pharmaceuticals, food and agricultural sectors, with the specific aim of using Sri Lanka as a value- addition centre, targeting also the use of the free trade agreements signed by Sri Lanka, Deputy High Commissioner Dr.D.Venkateshwaran told The Island Financial Review.
Venkateshwaran added: “Sri Lanka has signed free trade agreements with India, Pakistan and Singapore and is currently negotiating an FTA with the PRC. The FTAs with India and Pakistan cover only trade in goods. The agreements provide for duty-free entry as well as duty preferences for manufactured and agricultural goods.
“I am now negotiating and discussing with major South Indian industrialists to come and open up cement factories, electrical car manufacturing plants, sugar factories and mining plants in Sri Lanka.
“At present 14 flights are connected and we are planning to promote more budget airlines, especially to the Ratmalana airport, to attract more South Indian tourists and industrialists to Sri Lanka.
“Sri Lanka has enormous potential to promote itself as a major tourist destination among South Indian tourists because of the historical and cultural linkages. However, unfortunately, travel agents are taking them to only Kandy and Katharagama.
“My diplomatic jurisdiction covers states, such as, Tamil Nadu, Andhra Pradesh, Telangana, Kerala, Karnataka and Pondicherry, which consist of 300 million people. And those people’s buying power is very high with the rapid growth in the South Indian region, especially Chennai.
“Sri Lanka has a lot to offer South Indian tourists, especially the Ramayana trail, and Chilaw is one of the popular and important Ramayana-related places in Sri Lanka as it is home to the popular Munneswaram Temple and Manavari Temple. These two temples are the main Ramayana- related places which can be promoted as part of the Sri Lanka Ramayana Tour.
“India, being a highly technologically developed country, its agricultural and technological know-how can be transferred to Sri Lanka. At present I am in the process of discussing with South India’s largest agricultural organization for training Sri Lankan agricultural personnel and bringing quality seed to Sri Lanka to distribute among local farmers.
“A road show will be organized for South Indian investors to promote the Port City as well. I am planning to discuss with an Indian university to come and set up one of its campuses in Sri Lanka.” Sri Lankan Deputy High Commissioner said.
The Central Bank of Sri Lanka today (07) presented its flagship publication, the Annual Economic Review for 2024 (AER 2024), to President and Minister of Finance, Anura Kumara Disanayake, highlighting the steady progress of Sri Lanka’s economic recovery following the country’s most severe downturn in recent history.
The report was officially handed over by Dr. P. Nandalal Weerasinghe, Governor of the Central Bank, during a special ceremony held at the Presidential Secretariat.
AER 2024 comprises four main chapters: Macroeconomic Developments, Conditions of the Financial System, Review of Central Bank’s Policies and Macroeconomic Outlook.
According to the Review, the Sri Lankan economy showed significant signs of recovery in 2024, following the deep economic crisis experienced two years ago. The recovery trajectory, though challenging, has been notably faster than that of many other debt-distressed countries.
Improvements in economic activity, a partial resurgence in purchasing power and reduced uncertainty are among the key positive indicators noted in the report.
The event was attended by Dr. Nandika Sanath Kumanayake, Secretary to the President, K. M. Mahinda Siriwardena, Secretary to the Treasury, Mrs. K. M. A. N. Daulagala, Senior Deputy Governor, Dr. C. Amarasekara, Assistant Governor, Dr. (Mrs.) S. Jegajeevan, Director of Economic Research and Dr. L. R. C. Pathberiya and Additional Director of Economic Research at the Central Bank Dr. V. D. Wickramarachchi.
[PMD]
Business
IceWarp expands into Sri Lanka, fostering European innovation in collaboration with FentonsIT
IceWarp, a global leader in business communication solutions, has officially launched its cutting-edge platform in Sri Lanka, bringing European expertise in email and collaboration solutions to support the country’s evolving business landscape.
This expansion is driven by a strategic partnership with Fentons Information Technology (FIT), the Information Technology arm of Hayleys Fentons Limited.
The grand launch event held at The Kingsbury Colombo on 4th April, 2025, was graced by several distinguished guests, including Chief Guest Mohan Pandithage, Chairman and Chief Executive of Hayleys PLC.
The presence of Adam Paclt, Global CEO of IceWarp, and Pramod Sharda, CEO for India and the Middle East of IceWarp, along with their global team, highlighted the significance of this expansion. Industry experts, government officials, corporate leaders, and CIOs from the banking, financial services and insurance sectors were in attendance as well, reflecting strong local interest in IceWarp’s European expertise.
With this launch, Sri Lankan businesses now have access to an affordable, scalable and secure alternative to Microsoft 365 and Google Workspace. IceWarp’s advanced Collaboration Suite integrates a wide range of tools into a single, unified platform designed to streamline communication and boost productivity. Offering flexible hybrid deployment options and cost-efficient solution, IceWarp enables organisations to optimise their operations without compromising security or functionality.
Eventistry Sports, a trailblazer in innovative sporting events, has unveiled the Sri Lanka Padel League (SLPL), the nation’s first franchise-based padel tournament, set to debut in June 2025. This groundbreaking league promises to redefine Sri Lanka’s sports landscape by creating a dynamic national platform for athletes while fostering unity among fans, brands, and communities.
The SLPL will showcase six franchise teams, each embodying the spirit of iconic Sri Lankan locales: the Colombo Chargers, Yala Rangers, Hikkaduwa Riders, Ella Hawks, Arugambay Vipers, and Trinco Warriors. These teams will not only ignite regional pride but also unite the country through a shared passion for padel—a fast-paced racquet sport merging tennis and squash, played on enclosed courts.
“The SLPL is more than a league; it’s a movement,” declared Karin Wijeratne, Director of Eventistry Sports. “By blending franchise sports with Sri Lanka’s vibrant culture, we’re creating a platform where players gain national recognition, fans rally behind their hometown heroes, and brands engage with communities in meaningful ways.”
The league’s launch on June 21–23, 2025, at Colombo’s Padel House courts (CR&FC) will kick off with three days of high-octane matches, preceded by a star-studded player auction on May 16th at The Vault, Colombo City Centre. Local talent—both professional and intermediate—will be drafted by franchise owners, with international registrations now open to elevate the competition’s global appeal.
Please log in to: www.slpadelleague.com and social media: @SriLankaPadelLeague (Facebook & Instagram) for more information.
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