Indian construction expo in Colombo


Indian Chamber of Commerce organized a three-day programme "India INVESTRADE 2012" at Colombo, Sri Lanka from 26th April 2012 to 28th April, 2012. The programme dealt with "Realty Construction and Construction material" as the focus industrial sector. The programme consisted of conference, an exhibition and buyer-seller meets. ICC organized this event for the first time in Sri Lanka with support from Ministry of Commerce & Industry, Government of India.

The purpose of the event was to promote and facilitate trade and business engagement between India and Sri Lanka. The idea was to focus on a very crucial industrial segment for both the countries and introduce Indian entrepreneurs of that sector with their Sri Lankan counterparts and promote the process of business engagement in terms of facilitating proper information flows, exchange of ideas, sharing common business interests, finding ways to alleviate existing institutional and non-institutional barriers for trade and investment and finally arrive at actual business deals. The goals of the programme could be placed in the broader framework of Government of India’s existing foreign policy of intensifying regional co-operation and economic integration with South and South East Asian countries.

With this perspective, Indian Chamber of Commerce decided to hold the first "India INVESTRADE" in Sri Lanka with pro-active support from leading industry bodies of Bangladesh, namely "Federation of Chambers of Commerce & Industryof Sri Lanka and National Chamber of Commerce of Sri Lanka"

The inaugural programme was graced by many important dignitaries viz Basil Rajapaksa, Minister for Economic Development, Government of Srilanka, Lasantha Alagiyawanna, Deputy Minister, Ministry of Construction, Ashok K Kantha, High Commissioner of India of Sri Lanka, Kumar Mallimaratchi, President, FCCISL and Sunil G Wijesinha.

Rajapaksa spoke at length about Sri Lankan economy which is growing at a rate of 8.3% for last two years. He also said that the economy is seeing a boom for the construction sector and construction materials as well. India being neighbouring country has a role to play in shaping up the construction sector in Sri Lanka. This is perhaps the right time to invest in the country .He talked about the sectors which have also the opportunities to explore apart from construction sector are tourism, education and skill development.

He has invited India to invest in both sectors education and skill development in Sri Lanka.

Finally he has thanked Indian Chamber of Commerce and Indian High Commission for organizing this initiative and hoping that this exhibition cum conference will help in getting business and investment in the country.

Ashok K Kantha, High Commissioner of India of Sri Lanka, thanked ICC for taking this initiative. India and Sri Lanka already have a strong trade investment link and the two countries should use this relation as a platform and put forward the growth trajectory higher .Today India and Sri Lanka are in the midst of strong economic growth and India investing 150 million USD in the Srilanka further strengthens the relation between two countries. He also added that as Sri Lanka is having a construction boom it is expected that in next 5 years the sector will be growing at 20 %per annum.

He mentioned that in order to boost the bilateral relation in construction sector the Sri Lankan government is providing incentives to the Indian companies for investing in the country.

Exhibition was inaugurated by Basil Rajapaksa. The exposition was participated by 50 construction and construction material companies from India.

Around 250 delegates witnessed the conference on first day. And few hundred visitors also attended the exhibition. The Event was well managed by Victory Exhibitions and Conventions (Pvt) Ltd. The participation from media was also remarkable.

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