8th AGM of Indo Lanka Chamber of Commerce and Industry

Seated from left: Carson Cumberbatch PLC Past President ILCCI Tilak De Zoysa, John Keells Holdings PLC Vice President ILCCI Romesh David, High Commissioner for India in Sri Lanka and the Chief Guest Y.K. Sinha, Watawala Plantations PLC, ILCCI President Vish Govindasamy, ICICI Bank, Vice President ILCCI Biju Jacob, Ceylon Chamber of Commerce Senior Assistant Secretary General Ayoni Waniganayake

The eighth Annual General Meeting of the Indo Lanka Chamber of Commerce and Industry was held recently at the Taj Samudra Hotel, Colombo.

Speaking on the occasion, the High Commissioner congratulated ILCCI President Vish Govindswamy, who was re-elected for 2016-17, and the new office bearers of ILCCI. He commended the role of ILCCI in promoting bilateral trade and economic cooperation.

Highlighting the new and transformative phase in India-Sri Lanka bilateral relations, the High Commissioner stated that four high level bilateral visits took place within first 90 days of the formation of a new government in Sri Lanka in January 2015. The stream of high level visits had continued and enhanced bilateral economic and commercial engagement were an important agenda point in all these meetings.

Noting that the India Sri Lanka Free Trade Agreement has been beneficial to both countries, High Commissioner highlighted that the Economic and Technology Cooperation Agreement, proposed by Prime Minister Ranil Wickremesinghe, when he visited India in September 2015, would also focus on sectors such as capacity building, technology, vocational training, IT and tourism, among others, which would immensely benefit Sri Lanka. 

In this regard, he said the recent visit of the Minister of Development Strategies and International Trade Malik Samarawickrama to India was very successful and the keenness to move forward was palpable on the sides. High Commissioner stated that the first round of negotiations on the ETCA would take place soon. He reassured that India was aware that greater economic integration requires moving in an asymmetric manner – India doing more than is expected of Sri Lanka.

India was prepared to move at a pace which Sri Lanka is comfortable with and address Sri Lankan concerns as well as take measures to facilitate Sri Lankan exports to India.

Noting that India had attracted FDI amounting to $ 40 billion in 2015-16 the High Commissioner stressed that Sri Lanka needed to take advantage of its proximity to India by linking into value chains and supply chains. ILCCI, representing the apex business stakeholders should play the lead role in this. ILCCI had led a 12 member delegation to the Make in India Week in February 2016 and should be mounting more such delegations to India. The High Commissioner assured full facilitation in the activities of ILCCI.

Watawala Plantations Group Managing Director Vish Govindasamy was re-elected as the President of the Ceylon Chamber led Indo Lanka Chamber of Commerce and Industry (ILCCI) at its eighth Annual General Meeting. Addressing the membership at the AGM, Govindasamy highlighted many activities carried out by ILCCI during the year under review, with the trade promotion mission to India parallel to ‘Make in India’ week being the highlight. 12 companies, both Indian and Sri Lankan based in Colombo participated in the Mission to Mumbai, and developed successful business bilateral business contacts. 

ILCCI also hosted many incoming delegation during the year recently concluded. ILCCI also established a CSR fund from the profit generated through India Cup golf tournament concluded in January, and through this was able to assist Kollupitiya Methodist G.T.M. School of Colombo 2. Gowindasamny also extended his gratitude towards India for their assistance during the floods in May. 

John Keells Holdings PLC President – Transportation Group Romesh David and ICICI Bank Country Head Biju Jacob were re-elected as the two Vice Presidents of the Chamber. Carson Cumberbatch PLC Group Director Desamanya Mano Selvanathan remains as the Immediate Past President.

The current Committee of ILCCI comprises firms such as Associated Motorways, represented by Samantha Rajapaksa, Managing Director of the firm, Carson Cumberbatch and Company Ltd. represented by Deshabandu Tilak De Zoysa, Chairman of the company, and Lanka IOC PLC, which is represented by Shyam Bohra, Managing Director of the entity, while Piramal Glass Ceylon PLC is represented by Sanjay Tiwari, President and the Executive Director of the firm.  Tata Communications Lanka Ltd. and Citihealth Imports Ltd. were newly elected to the committee and will be represented by Ashish Dubey, CEO and M.N.M. Miflal, Senior Partner respectively. 

Department of Commerce Director General Sonali Wijeratne and Indian High Commission First Secretary of Economic and Commercial Kartik Pande are also members of the Committee.

The ILCCI is registered under the Ceylon Chamber of Commerce. The Association for Sri Lanka India Economic Development of the CCC, which was in existence since 1996, was re launched as the Indo-Lanka Chamber of Commerce and Industry (ILCCI) on 13 September 2006.

The Ceylon Chamber of Commerce functions as the Secretariat of the ILCCI.