Indian CEO Forum holds 6th AGM

The Indian CEO Forum (ICF) held its sixth Annual General Meeting on Thursday 22 June at the Taj Samudra Hotel. 

The Indian CEO Forum, formed in July 2013, is a registered body with membership constituted by Indian investments in Sri Lanka, Indian heads of multinational corporations (MNCs) and Sri Lankan companies. It currently has 64 members contributing in providing gainful employment to thousands, providing best-in-class management and technical skills and contributing substantially to Sri Lankan foreign exchange earnings. 

The objectives of the Indian CEO Forum is to promote and contribute to the Economic growth of Sri Lanka through Indian investment, safeguard and strengthen existing Economic co-operation, foster new Economic ties between India and Sri Lanka, provide an open forum for the business leaders of Indian origin employed with Indian Multinationals and Sri Lankan Business/Commercial organisations in Sri Lanka. ICF endeavours to showcase investment opportunities in Sri Lanka to potential new investors from India.

The newly constituted board is as follows:

President: Shyam Bohra, MD, Lanka IOC PLC 

Vice President : Rajeev Srivastava, CEO, State Bank of India 

Secretary: T.S. Prakash, GM, Beauty Products Lanka Ltd.

Treasurer: Anand Kumar Narayanan, ICICI Bank

Chairman-Government Liaison: Sanjay Tiwari, CEO and MD, Piramal Glass Ceylon PLC

Chairman-Event Management: Kishore Reddy, CEO/MD, Platinum Realty Investments Ltd.

Chairman-Membership: Judajit Sen, MD, Life Insurance Corporation (Lanka) Ltd.

Immediate Past President: Umesh Gautam, CEO, Lanka Ashok Leyland PLC

Advisor to the Board: Mohan Bharara, Group Director/CEO, The Capital Maharaja Organisation Ltd. 

Bohra, newly elected President stated that the membership of ICF has reached to 64 representing diverse industries viz- Fuel, Infrastructure, Packaging, Banking, Pharmaceuticals, FMCG, Media, Logistics, Automobile, Dairy, Cement etc., and they have made a significant impact and support to Sri Lankan economy by way of bringing huge investments into the country, export earnings, employments generation, contribution to Treasury through direct and indirect taxes and building a brand for Sri Lanka. 

Further he stated that as a responsible body, ICF will continue to identify opportunities and channelise the strategies of individual companies/members for a convergent growth. Bohra in his remarks outlined that the several CSR activities which they have been doing as individual companies need to be aligned in a structured manner so that the results are more pronounced. 

ICF has successfully completed many projects for the well-being of the society and members in addition to the specific CSR initiatives carried out by the member companies independently. With the growing concern over diabetes, blood pressure and vision related problems they successfully organised health camps to create island wide awareness. Indian CEO Forum regularly organises meetings with the Indian delegations visiting Sri Lanka for showcasing their success stories and boosting confidence for potential investors to explore investment opportunities in Sri Lanka. The objective is to attract and promote investment in Sri Lanka. During last year they have contributed to a drinking water project for over 200 families in the Kalutara District under the ‘Gammadda Project’ of ‘News First’. 

Bohra expressed that many activities are planned during the coming year and some of the important initiatives apart from CSR activities are:

• To organise sessions by professional experts/speakers in the domain of business strategy/business excellence every 2 months 
• Attempt to foster cultural and economic programs 
• Make efforts to add more value to the relationship which we have been able to create with the trade bodies i.e. FICCI, CII, National Chamber of Commerce of Sri Lanka (NCCSL), Ceylon Chamber of Commerce (CCC), International Chamber of Commerce (ICC), etc. 
• Supporting Government in showcasing the experience and successful Indian ventures in attracting more investments in the country

Indian CEO Forum would serve as a symbiotic link that binds India and Sri Lanka and will further enhance their economic engagement in terms of mutually beneficial trade and investment, thereby creating a win-win situation for both countries. India and Sri Lanka enjoy a vibrant and growing economic and commercial partnership, with both trade and investment expanding greatly in recent years. Also massive progress made in trade and cultural relations actively partnering to further strengthen the economic relations of the two countries by encouraging more Indian companies to invest in various sectors in Sri Lanka and likewise guide Sri Lankan entrepreneurs willing to do business in India or invest in India. 

On the investment front, top Indian companies have displayed great interest in Sri Lanka, investing in the country across sectors such as infrastructure, manufacturing, services, and construction. Sri Lankan companies too are finding opportunities in the large Indian markets. 

The ICF is pledged to continue in its endeavours to contribute towards the economic development of 

Sri Lanka.