PM and Indian HC meet to discuss investment opportunities

• Follow-up after virtual bilateral summit with Modi
• Potential investment in multiple sectors, including pharmaceuticals, agriculture and power, discussed 

Indian High Commissioner Gopal Baglay called on Prime Minister Mahinda Rajapaksa on Thursday to discuss potential investment opportunities between the two countries in research and manufacturing, including the local pharmaceutical sector. 

This was their first meeting after the Virtual Bilateral Summit (VBS) between the Prime Ministers of India and Sri Lanka held on 26 September, and afforded an excellent opportunity to follow up on implementation of the decisions taken in that high level interaction last month, the Indian High Commission in Colombo said in a statement. 

Referring to the tone set by the two leaders in the VBS for expanding existing mutually beneficial bilateral cooperation in a number of areas, the High Commissioner sought the guidance of Prime Minister Rajapaksa for further steps, including in the spheres of priority to Sri Lanka.

The High Commissioner mentioned to Prime Minister Rajapaksa that he and his colleagues in the High Commission had fruitful discussions in the days since VBS with a number of senior members of Sri Lanka’s Council of Ministers, including in the areas of economy, connectivity, power and energy, agriculture and animal husbandry, development cooperation, education and capacity building, water and sanitation, health and pharmaceuticals, culture, and people-to-people relations. 

In the context of the Government’s high priority attached to water, sanitation, agriculture and manufacturing, the High Commissioner referred to India’s recent experience in these areas and stated that India was ready for developing further bilateral cooperation in accordance with Sri Lanka’s requirements. 

He responded positively to the suggestions of the Prime Minister Rajapaksa for Indian investment in research and manufacturing in Sri Lanka, including in the pharmaceutical sector.

The High Commissioner stressed the significance of facilitating mutually beneficial trade and investment between India and Sri Lanka, which are close maritime neighbours and friends. 

The High Commissioner thanked the Prime Minister for his continued guidance for expeditious implementation of mutually beneficial projects.

Recalling the importance attached by Prime Minister Modi to promoting people-to-people relations between the two countries, the High Commissioner stressed in this context the significance of the grant assistance of $15 million announced by Prime Minister Modi during VBS for promoting Buddhist ties between the two countries. He mentioned that details of its implementation are being discussed with the Sri Lankan authorities concerned.