India’s Consulate General in Jaffna V. Mahalingam said that, his country was looking forward to starting direct air links between India and Jaffna along with the ferry service between Talaimannar and Rameswaram at an early date.

India has helped in rehabilitating Kankesanthurai Port by removing wrecks/sunken ships and also dredging under Indian grant assistance Additionally, he said that by April 2014, the railway line would eventually reach Jaffna. India has helped in rehabilitating Kankesanthurai Port by removing wrecks/sunken ships and also dredging under Indian grant assistance.

He was making his remarks during the function to mark the opening of the International Trade Fair in Jaffna on January 17. It was the fifth trade fair. “Two more important links which could improve people-to-people contacts as well as in turn substantially improve trade and economic relations are direct air links between India and Jaffna and the ferry service between Talaimannar and Rameswaram. We look forward to these two happening at an early date which will give a great boost to economic development of Northern Sri Lanka,” he said.

He said India and Sri Lanka enjoy a vibrant and growing economic and commercial partnership, with both trade and investment expanding greatly in recent years. Since the operationalization of the India – Sri Lanka Free Trade Agreement (FTA) in 2000, trade alone had multiplied by as much as eight fold, crossing of the US$ 5 billion in 2011-12.

He said, “Top Indian companies continued to display great interest in Sri Lanka, investing in the country across sectors such as infrastructure, manufacturing, services, and construction. The cumulative FDI approvals for Indian investments stand about US$ 1 billion since 2003, with investment inflows of US$160 million in 2012. Nearly US$ 2 billion worth of FDIs has been committed by Indian companies for the next five years or so. The investment flow is by no means one-sided as Sri Lankan companies too are finding opportunities in the large Indian markets, leveraging FTA provisions. (KB)

Source: Daily Mirror - Sri Lanka