Indian business delegation explores business opportunities in Sri Lanka

A delegation from the Southern Gujarat Chamber of Commerce and Industry (SGCCI) undertook a visit to Sri Lanka from 11-17 September to explore business opportunities in Sri Lanka, especially in the gem and jewellery field. 

The seven-member business delegation represented a wide range of industries including textile, gem and jewellery, energy, chemicals, agriculture, solar energy, and furniture.

SGCCI is one of the oldest chambers in Southern Gujarat, based in the richest area of the country. Surat, the world’s biggest diamond cutting and polishing hub, accounts for more than 80% of total exports of processed diamonds from India. Surat has more than 3,500 diamond processing units and eight out of 10 diamonds in the world are processed in Surat. 

The delegation met Minister of Development Strategies and International Trade Malik Samarawickrama along with the Chairman of Board of Investment (BOI) and senior officials from the Ministry of Commerce. The Minister encouraged the business delegation to invest in Sri Lanka and take advantage of this emerging gateway to South Asia, Europe, and Africa. 

The President of SGCCI expressed their interest in organising a business-to-business exhibition of Surat Textiles in Colombo to connect fabric manufacturers to the Sri Lankan garment manufacturers, given Surat is also home to the textile industry in India.

The delegation had successful discussions with the officials of the Gem and Jewellery Authority, Gem and Jewellery Association of Sri Lanka, and the National Chambers of Commerce and Industry. The discussions were centred on creating new business opportunities in addition to setting up a diamond grading lab in Sri Lanka with the support of the Indian Diamond Institute and possible Indian investment in the mining of gemstones in Sri Lanka.

An invitation was extended to Sri Lanka for ‘Surat Sparkle 2019’, a gem and jewellery exhibition to be organised by SGCCI in Surat in December. The Sri Lanka Consulate General in Mumbai organised the visit.