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Swift moves can propel Sri Lanka Tourism to new heights: Indian investor

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Ocean edge Suites & Hotel. Marine Drive, Colombo 3
  •  Indian outbound travellers are still unaware that Sri Lanka has fixed its shortage issues

  •  Hosting a big international event would boost confidence in potential travellers

  •  Right promotion is to start flights to new Indian destinations

By Sanath Nanayakkare

If Sri Lanka Tourism is to grow at a fast pace, the country should capture a significant share of the growing outbound travellers from India, and with the right moves made swiftly, it won’t be a herculean task for Sri Lanka, says an investor cum global investment manager from India who runs a leading hotel property in Sri Lanka.

Indian investor, Priyank Gupta who is the Chairman of Ocean Edge Suites and Hotel on the Marine Drive in Kollupitiya says that given the close proximity to India, a boom in Sri Lanka tourism and leisure industry is Sri Lanka’s for the asking.

“But things that need to be done need to be done within the fastest possible time,” he says.

Further speaking he says:

“India is the most populous country in the world with the fastest growing economy. The Indian outbound travel market is among the fastest growing markets globally, therefore, Sri Lanka needs look no further than India for the exponential growth of its tourism sector to account for a greater share of Sri Lanka’s GDP.”

“However, I think Sri Lanka must relay the correct message and dispel the doubts in the minds of Indian outbound travellers about the current ground situation in Sri Lanka. Most Indians still think that Sri Lanka still suffers from food shortage, fuel shortage, electricity shortage etc. That perception doesn’t put them at ease about visiting Sri Lanka. But the reality is different. You have everything here that a foreign traveller wants. The general public may have their struggles but guests have everything they expect from a good holiday destination. That’s what they care about. Unfortunately, that message is not out there yet. So what Sri Lanka Tourism needs is not only promotions but sending the core message that the country’s tourism sector has fully recovered and there are no shortages whatsoever.”

“Indian tourism is booming. The load factor of our domestic flights is more than 90 per cent. The great shift in Indian domestic tourism is evident from the hotel room rates. A room sold in some of the places in India for US$ 30 a few years ago now costs up to US$ 300 dollars. So, with the right marketing strategy, Sri Lanka can take a significant share of that business because the two countries are tantalizingly close. The farthest place in India from Sri Lanka is New Delhi and Delhi is just 3 hours away. You see, Vietnam which was not on India’s tourism map, started direct flights to lesser known cities in India like Ahmedabad and strategically penetrated into that market when Sri Lanka hadn’t been active in the tourism landscape in the past few years.”

“Nevertheless, it’s a very positive thing that Sri Lanka has designated acceptance of Indian Rupee (INR) in Sri Lanka. I am confident that the acceptance of INR in Sri Lanka will have a major advantage for tourism because the fact that Indian tourists can pay in their own currency will make Sri Lanka a preferable destination for Indian tourists.”

“A withholding tax will come into effect from July 1, 2023 in India on all foreign exchange purchases. So our understanding is that if you go to another country where you buy foreign exchange, there will be a withholding tax of 20 per cent. In this context, it will be preferable for Indian travellers to visit countries where INR is accepted. Sri Lanka has opened the path of accepting the INR. If that is properly executed, Sri Lanka will be the most preferable destination in the world for Indian travellers.”

“With the adoption of INR transactions and relaying the correct message to India as I said, Sri Lanka will have a tourism explosion, so to speak. But If INR execution takes two years, by that time India would roll it back or India would figure out another way and Sri Lanka would miss the bus.”

“Visa fee is not a concern among tourists anymore. But connectivity is. So the right promotion is to start flights to new Indian destinations. That will bring you tourists. Let me say this too. There is no better place than Sri Lanka for Indian tourists to spend a quick weekend getaway. I have organized many tours for travellers from Delhi who hopped over to Colombo at short notice. They would inform me at 1pm on Friday and take a flight to Colombo at 5pm and get here at 8pm. I would have everything ready for them by the time they arrive. They would enjoy the best of serene Sri Lankan hospitality over the weekend and would be back in Delhi on Monday. Indians who have very busy lives find this experience amazing.”

Gupta says that Sri Lanka should demonstrate to India as well as the rest of the world that it has a stable ground situation to host big international events.

“In 2010, Sri Lanka hosted International Indian Film Academy (IIFA) awards in Colombo. The ceremony was televised in India and internationally and it conveyed a positive image about Sri Lanka. But when Sri Lanka withdrew from hosting Asia Cup 2022 amid political turmoil, it sent a reverse message and the country’s image suffered. In my view, if Sri Lanka can host a multi-nation cricket tournament involving India and Sri Lanka with other countries like England, Australia, South Africa etc. that would send a very positive message to India. Because that would drive home the point there’s nothing to worry about visiting Sri Lanka. On the contrary, they would see Sri Lanka has returned to complete normalcy and is visitor-friendly. So the right kind of help you should seek from India is to put together a big event like that rather than anything else,” he says.

The Island Financial Review

learned from the Ocean Edge Hotel’s staff that the hotel not only remained resilient through the Covid 19 pandemic and the unprecedented domestic economic crisis without using retrenchment as a cost reduction measure; but also gave its employees a sufficient pay rise to balance out prolonged inflationary pressure in the country.



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Indian business leader urges SL entrepreneurs to tap into India’s rapidly expanding consumer market

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T. Krishnakumar, Chief Executive Officer of Reliance Consumer Products Ltd (RCPL)

By Sanath Nanayakkare

Speaking at the Sri Lanka Economic and Investment Summit 2026, T. Krishnakumar, Chief Executive Officer of Reliance Consumer Products Ltd (RCPL), emphasised that local enterprises can unlock substantial economic benefits by strategically aligning with India’s booming consumer base.

Addressing business leaders and policymakers at the Shangri-La Hotel in Colombo, Krishnakumar highlighted that geographical proximity and rich cultural ties provide a natural foundation for deeper commercial collaboration.

He noted that instead of viewing bilateral trade narrowly, regional partnerships should act as conduits to build robust, scalable enterprises capable of plugging into wide-reaching regional value chains.

“For Sri Lankan exporters dealing in traditional staples as well as value-added goods, accessing India’s rising middle class presents a phenomenal growth window,” he said.

Drawing insights from Reliance Consumer Products’ rapid expansion – which scaled efficiently to thousands of employees and multi-billion-dollar metrics – Krishnakumar stressed that modern corporate success relies on disciplined execution, localised consumer understanding, and smart technology integration.

Furthermore, he underscored that while rapid growth is critical, businesses must consistently anchor their models in affordability and consumer trust.

Concluding his address at the summit, the RCPL chief noted that pairing regional trade integration with resilient business practices and predictable regulatory frameworks will be vital as Sri Lanka transitions firmly toward accelerated economic development.

Addressing the Summit during a subsequent fireside chat, President Anura Kumara Dissanayake underscored that a core concern currently being targeted by the government is developing a critical mass of local entrepreneurs equipped to engage with international enterprise counterparts.

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SriLankan Airlines wins prestigious SATA 2026 Visitors’ Choice Award for Leading International Airline

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SriLankan Airlines has once again been honoured with the prestigious Visitors’ Choice Award for Leading International Airline at the South Asian Travel Awards (SATA) 2026, reaffirming its continued recognition in the regional travel and tourism industry. The airline, which has received this award in previous years, was the only international airline to be recognised in this category at this year’s event. The 10th anniversary edition of the awards ceremony was held earlier this month at Hotel Barcelo Nasandhura in Male, Maldives.

Recognised as one of the key events on the Maldivian tourism and travel industry calendar, SATA celebrated its 10th anniversary on a grand scale, bringing together prominent industry stakeholders, including Government Ministers, distinguished dignitaries, diplomats and senior representatives from leading airlines and their respective head offices.

Commenting on the achievement, Dimuthu Tennakoon, Head of Commercial, SriLankan Airlines, stated, “We are honoured to receive this recognition at the South Asian Travel Awards 2026. Being named the Leading International Airline in the Visitors’ Choice Awards once again is a meaningful acknowledgement of our commitment to serving our passengers and strengthening our presence in the region. This award inspires us to continue enhancing the travel experience we offer and to build stronger connections with the markets and communities we serve.”

Complementing its commitment to service excellence, SriLankan Airlines offers an extensive flight network with convenient connections to destinations across the globe. In South Asia, the airline operates nearly 130 flights each week to 15 destinations across India, Pakistan, the Maldives, Nepal, and Bangladesh. With schedules thoughtfully designed to suit the needs of travellers, SriLankan Airlines provides seamless connectivity for those visiting Colombo for business or leisure, as well as passengers travelling onwards to destinations worldwide.

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JXG enters LMD’s Most Respected Entities in Sri Lanka 2026 for the first time, securing a place among the first 50

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Gamika de Silva, Group Chief Marketing Officer at JXG

JXG (Janashakthi Group), Sri Lanka’s leading financial conglomerate, has been ranked 44th in LMD’s Most Respected Entities in Sri Lanka 2026, marking the Group’s first appearance in the prestigious listing. The recognition places JXG among Sri Lanka’s most respected companies and marks an important milestone in the Group’s master-brand journey.

As the holding company, JXG was also recognised across key attributes including Aspirational Workplace, Business Expansion, Business Innovation, Corporate Culture, Corporate Dynamism, Crisis Management, Employee Wellbeing, Honesty and Integrity, and Leadership Profile. The recognition reflects the growing strength of the JXG brand and the collective contribution of its businesses and people in building trust and confidence among its stakeholders.

JXG’s subsidiaries, including Janashakthi Life and First Capital, have also been recognised in the main table of LMD’s Most Respected Entities 2026 rankings, while Janashakthi Finance has been recognised under the Business Expansion attribute, reflecting the strength of the Group’s individual businesses alongside its growing master brand.

Conceptualised and commissioned by LMD and conducted by PepperCube Research Consultants, the Most Respected Entities special edition recognises companies based on an independent survey of Sri Lanka’s business community.

Commenting on the recognition, Gamika de Silva, Group Chief Marketing Officer at JXG, said, “This is a proud moment for all of us at JXG. We set out to build a Group brand that is not just seen but lived by our people and reflected in everything we do. Ultimately, the true testament to any brand lies in its people, and the credit for this recognition goes to everyone across JXG who brings our values to life every day. This recognition is an encouraging milestone for us, while also reminding us to keep raising the bar and earning the respect of our stakeholders through what we do.”

JXG’s approach to building trust is anchored in its core values of Integrity, Collaboration, Respect, Performance Driven and Innovation. These values guide how its businesses operate, how its people engage with one another and how the Group serves its customers and wider stakeholders.

As JXG continues to expand its businesses, the Group remains focused on strengthening its market presence, creating long-term value and contributing to the growth of Sri Lanka’s financial services sector, guided by its purpose, Breaking Barriers, Forging Futures.

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