The economic winds are blowing eastwards. And after decades of the West being the engine of the global economy, it’s now the turn of the East to be the growth engine.
India is now poised to be the growth engine of the world, and South Asia has a unique opportunity to reap the rewards of this shift in the economic epicenter from the West to its own backyard.
India and Sri Lanka have engaged in mutually beneficial economic relationships for millennia. And even today, many Indian goods moving eastwards utilise the state-of-the-art port facilities in Colombo.
With India poised to become the second largest economy in the world by 2075 (FT report) and becoming the fastest growing economy in the world, the time is right to foster even closer mutually beneficial business ties between India and Sri Lanka.
Lanka India Business Association (LIBA) is now in operation in Sri Lanka to further enhance the already close ties between Indian and Sri Lankan businesses.
Santosh Menon, President of LIBA said “Sri Lanka has forever been a global trading powerhouse. Its high-quality cinnamon, pepper and more recently ‘Ceylon Tea’ has been sought after commodities around the world. Its high-quality skill at garment making makes it a chosen supplier for some of the world’s most fastidious brands. The time has come to now engage more actively with the Indian market and find the right ways to exploit it. We formed LIBA to foster and facilitate closer and more meaningful links between Indian and Sri Lankan businesses.”
His Excellency Santosh Jha, High Commissioner of India to Sri Lanka said “India and Sri Lanka have longstanding civilizational links, with economic and commercial relationship naturally being an integral part of it. I look forward to LIBA further strengthening and fostering closer ties among the business community from both countries. I welcome this initiative and wish Santosh Menon, President of LIBA and the founding members of the Governing Council much success in achieving their goals.”
Aroshi Nanayakkara, Vice president of LIBA said “Sri Lanka has a highly skilled work force with a proven ability of supplying the world’s most premium brands. Our literacy rates, quality of life indicators and natural hospitality equip us to be exceptional business partners helping us build long term relationships, bringing benefits not only to the partnering organisations but also to their respective countries. We are keen to provide potential investors with a platform to invest in Sri Lanka and we are confident that LIBA will be that platform.”
Prakash Schaffter, Governing Council member said “Our geographical location has been our strength as we are strategically placed in the sea lanes which are a crossroad for trade between the East and the West. And now with South Asia poised to be the centre stage of trade we must use our proximity to India to our advantage.”
Ashique Ali, Governing council member said “In the areas of digital and start-ups, we are building closer ties with India, to benefit from the learnings in the area. Many of our home-grown tech products are of the highest quality and we want to make sure that they will be able to maximise the benefits of being close to India.”
Nevindaree Premarathne, Governing Council member speaking of her own experience said “ I have a business related to STEM education and I see a big demand in India for this new method of creative teaching. I am happy to provide this high-quality product to the Indian market. As a LIBA council member, I will be reaching out and educating others on the opportunities in India.”
Dilshan Rodrigo added “As a banker, I see the MSME sector in Sri Lanka in which there are people who have strong entrepreneurial skills, and who want to go beyond their traditional markets to something bigger and better. We will try to provide them with the opportunity through LIBA.”
Samanthi Dias stated that India and Sri Lanka, both being Commonwealth countries, have similarities in the legal systems, and the cross-border networking could help Sri Lanka to shape the legal framework, and policies in evolving sectors such as commercial, trade, artificial intelligence and intellectual property.
Sandeep Holey, Director and Country Head, UltraTech Cement, Sri Lanka, LIBA is set to be a key player in advancing the relationship between India and Sri Lanka, enabling businesses and professionals to “Grow Together” through knowledge sharing, networking, and collaboration.
Santosh Menon concluded by saying “Our governing council represents very senior professionals and businesspeople from a myriad of industries and backgrounds in Sri Lanka. Both from a gender context as well as from an India/ Sri Lanka context, it’s a diverse and inclusive team. We are also committed to working with existing trade and business-related chambers and other institutions. We will have a strategic approach to deliver our vision.”
Membership to LIBA is now open. Free Membership (one month only) can be obtained by writing to us at [email protected]. Write to us about your business and interest in the India opportunity. The governing council will take a final call on all memberships.
More information can be obtained by visiting www.liba.lk
About LIBA
The Lanka India Business Association (LIBA) is an initiative launched in 2025, to foster business relationships and unlock potential opportunities between Sri Lanka and India. LIBA aims to leverage the close proximity of both nations and their respective strengths to foster economic collaboration in the South Asian region, as it is set to become a hub for global growth. By promoting partnerships and trade, LIBA envisions prosperity and mutual growth for Indian and Sri Lanka communities, while driving the region to become a global economic force.
ENDS
Photo Captions:
Founding Members of the Governing Council of LIBA
Recent Comments