Indian investments to help Sri Lanka achieve higher growth trajectory, create more jobs: Prabhu

Former Union Minister Suresh Prabhu on Friday stressed on further strengthening economic ties with neighbouring Sri Lanka and said that Indian investments in the island nation will take it to a higher growth trajectory and create more local jobs. Addressing a virtual event organised by industry body CII, Prabhu said India wants Sri Lanka to benefit from the former's progress towards the goal of USD 5 trillion economy.

"India would like to ensure that we make investment in Sri Lanka for the benefit of Sri Lankans... Investments from India will create local jobs in Sri Lanka which will propel Sri Lanka in the higher growth trajectory," Prabhu, who is also India's Sherpa to G20 and G7 summits, said.

He emphasised that India will focus on the green sector in Sri Lanka.


Prabhu added that India wants to deepen economic relationship with Sri Lanka with the partnership of the private sector.

"The government will be the facilitator but the private sector will be the leader," he explained.

Prabhu also mentioned about the scope of medical tourism in Sri Lanka.

He also suggested that CII must bring parliamentarians of both countries together to discuss issues related to trade and economy.

Also speaking at the event, Sri Lanka's foreign minister Dinesh Gunawardena said both nations accord highest priority to each other and urged Indian investors to come forward and explore the untapped potential that exists in the renewable energy sector and light engineering sector.

"Close geographical proximity and close knitted relations provide huge opportunities," he said.

Indian High Commissioner to Sri Lanka Gopal Baglay said that implementation of large scale projects in the infrastructure sector would be a win-win situation for both nations.

Baglay also stressed on the need for connectivity between two countries from sea and air including resumption of airlink from Chennai and Jaffna.

He also sought Sri Lankan investment in India.