India is Calling, but is Sri Lanka Answering?

The participants discussed strategies for Sri Lanka to better capitalise on its economic and strategic relationship with India. Charindra, Dhananath, and Riyad analysed the existing free trade agreement (FTA) signed between the two nations, noting that while it has been successful in maintaining a trade surplus for Sri Lanka, it has not led to significant market penetration for Sri Lankan brands. Riyad argued that instead of focusing on exporting finished products, Sri Lankan industries—such as the rubber sector—should aim to integrate into Indian global value chains as component suppliers. This approach would help bypass high entry barriers for completed goods. Dhananath added that a more comprehensive trade agreement covering services and technical sectors is required to replace the current limited FTA. He also highlighted several existing successful examples of Sri Lankan companies in India, such as Damro, Maliban, and John Keells. Significant trade barriers in specific sectors like apparel.