Doing Business in Sri Lanka - High Commission of India, Colombo

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Doing Business in Sri Lanka Linkages between Business Chambers There are healthy linkages between the business chambers of the two countries. The Confederation of Indian Industry (CII) has an MoU with Ceylon Chamber of Commerce. The Federation of Chambers of Commerce and Industry of India partners the FCCISL under which a Joint India-Sri Lanka Business Council functions. An exclusive Indo-Sri Lanka Chamber of Commerce and Industry was inaugurated by Shri P. Chidambaram, the then Finance Minister in September 2006. Tourism India contributes the largest number of tourist arrivals in Sri Lanka. In 2009, 83,634 tourists came from India, which was a fall from 85,238 tourist arrivals in 2008, 106,067 in 2007 and 128,370 in 2006. This decline has been in keeping with overall decline in tourist arrivals in Sri Lanka since the peak of 2006. Recent figures of tourist trends indicate a definite signs of a significant increase in tourist traffic into Sri Lanka. Recent figures of tourist trends indicate a definite signs of a significant increase in tourist traffic into Sri Lanka. According to the Sri Lanka Tourist Development Authority, a total of 654,476 tourists visited Sri Lanka in 2010. From India a total of 126,882 tourists visited Sri Lanka in 2010, while in 2009 tourist arrivals from India to Sri Lanka numbered 83,634. A similar trend continued in 2011, with tourist arrival from India amounting to 171,374, out of a total of 855,975 tourist arrivals in Sri Lanka, contributing about 20.02% of all tourist arrivals. Sri Lanka also is in the top ten countries from where tourist arrivals are registered in India. In 2008, Sri Lanka sent 218805 tourists accounting for 4.02% of the tourist arrivals in that year. Sri Lanka is behind USA, UK and Bangladesh in terms tourist arrivals in India. Civil Aviation Agreement Sri Lanka also enjoys a very special relationship with India in the field of civil aviation. It is the largest foreign airline operator to India. Both sides had a meeting in New Delhi on 20-21 April, 2011 under the framework of the Air-Services Agreement signed on 21 December, 1948. It was decided that the designated airlines 44
Handbook for Indian Business of each side shall be entitled to operate 112 per week. In addition to the 112 frequency entitlements, the designated airlines of each side shall be entitled to operate any number of services with any type of aircraft with capacity not exceeding that of a B747 to/from points specified in their respective Route Schedule. During the meeting Indian side shared a revised Air Services Agreement with the Sri Lankan side. S&T Co-operation The first meeting of the India-Sri Lanka Joint Committee on Science & Technology was held at New Delhi on 22 September 2011. The Indian and Sri Lankan delegations were led respectively by Dr. Arabinda Mitra, Adviser and Head, Bilateral Cooperation Division, Department of Science & Technology, Government of India and Mrs. Dhara Wijayatilake, Secretary, Ministry of Technology Research, Government of Sri Lanka respectively. During the Joint Committee meeting, both sides agreed to step up bilateral cooperation in science and technology. The two sides signed a Programme of Cooperation in the Field Science & Technology for the period 2011-14. MOU on Ferry Service A Memorandum of Understanding (MoU) was signed on 7th January 2011 between India and Sri Lanka on Passenger Transportation by Sea. The MoU envisages putting in place ferry services between Colombo and Tuticorin and Talaimannar and Rameswaram. Resumption of these services signals an important step in the restoration of the traditional links between the two countries. The ferry service between Colombo and Tuticorin resumed operations on 13th June 2011, however, the operation has stopped since November 2011. MOU on Agriculture An MoU on cooperation in the field of Agriculture was signed on 17th January 2012 by H.E. Mr. Ashok K. Kantha, High Commissioner of India and Mr. W. Sakalasooriya, Secretary, Ministry of Agriculture, Government of Sri Lanka. Under the MoU, both sides shall promote development of cooperation in the fields of agricultural science and technology, agricultural production and agro-processing through joint activities, programmes, exchange of scientific materials, information and personnel. MOU on Telecommunications An MoU was signed on 17th January 2012 by Dr. J.S. Sarma, Chairman, Telecom Regulatory Authority of India (TRAI) and Mr. Anusha Palpita, Director General, Telecommunication Regulatory Commission of Sri Lanka (TRCSL). The MoU provides for establishing a mechanism of technical and institutional cooperation in the field of telecommunications, with the purpose of development of telecommunications in both the countries. Development Cooperation Between India and Sri Lanka India has assisted with infrastructure development in Sri Lanka through lines of credit and grant assistance to Government of Sri Lanka. Lines of Credit Government of India extended line of credit to Government of Sri Lanka for rehabilitation of the southern coastal railway corridor from Colombo to Matara in Sri Lanka. The project was implemented in two phases and involves renewal of track by IRCON and provision of training and rolling stocks by RITES. The total cost of the project is US$ 167.4 million, which has been provided as line of credit by the Export-Import Bank of India. The upgraded Galle-Matara rail track representing phase-I of the South coastal rail project between Colombo and Matara has been completed and was ceremonially opened in February 2011. The work on the phase- II of Southern railway line was completed on 11 April 2012 and formally handed over on 19 April, 2012. Government of India also committed a line of credit for US$ 800 million for rehabilitation of Northern Railway in Sri Lanka. On 26 November 2010, a line of credit of US$ 416.39 million for the reconstruction of the railway 45
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