India–Sri Lanka Summit Eyes $10 Billion Trade Potential

The India–Sri Lanka Trade Diplomacy Summit was jointly hosted by the World Trade Center (WTC) Mumbai and the All India Association of Industries (AIAI), in partnership with the Sri Lankan Consulate General. Held in hybrid format at Centrum, WTC Mumbai, the event aimed to reinforce bilateral trade relations through the India–Sri Lanka Free Trade Agreement (ISFTA), identifying opportunities in spices, tourism, digital technology, and investment.

The summit began with both national anthems, a ceremonial diya lighting with live flute music, and a warm exchange between Dr. Vijay Kalantri, Chairman of WTC Mumbai and President of AIAI, and Ms. Shirani Ariyarathne, Acting Consul General of Sri Lanka.

Dr. Kalantri emphasized the $5 billion India–Sri Lanka trade and encouraged doubling it through frameworks like SAARC, APTA, ISFTA, and SAFTA. Ms. Ariyarathne highlighted ISFTA’s value in boosting economic integration and bridging trade gaps through Sri Lanka’s unique exports such as Ceylon spices, Batik, handloom, apparel, and electronic goods. She further underlined how Sri Lanka’s GSP+ status with the EU can support Indian exporters seeking market access in Europe.

Mr. Mangala Wijesinghe, Chairman, Sri Lanka Export Development Board (EDB), discussed export diversification into electronics, ICT, and renewable energy, naming India as the second-largest destination. He spotlighted the “Voice Sri Lanka” campaign and upcoming global expos, and announced a Sri Lankan design and construction business delegation to attend Design Mumbai Expo in November 2025, with Sri Lanka Expo 2026 returning after 13 years.

Tourism was a key focus for Mr. Buddhika Hewawasam, Chairman of the Sri Lanka Tourism Development Authority. He revealed a Travel Fair from July 31 to August 2 to boost cultural exchange and tourism, as Sri Lanka aims to welcome 3 million sustainable tourists, backed by digitization and growing flight connections.

Ms. Priya Pansare from WTC Mumbai and AIAI shared plans to lead an Indian business delegation to “Industry 2025 Expo” in Colombo from 18–21 September 2025, a major event with over 400 exhibitors hosted by Sri Lanka’s Ministry of Industry and Entrepreneurship Development.

On the tech front, Mr. Sachindra Samarasundara, Associate Chief Digital Economy Officer, ICT Agency of Sri Lanka, introduced Disrupt Asia 2025, a premier innovation summit including a venture competition and the launch of a $50 million fund. Startups from IIT Madras are also set to join.

Mr. Suman Udayakumaran, Manager at Sri Lankan Airlines, stressed the aviation benefits between both nations. “With India being the third-largest aviation market and Sri Lanka just next door, better connectivity is essential,” he stated.

The summit concluded with renewed commitment to strengthening trade, technology, and tourism. Anchored by ISFTA, India and Sri Lanka envision closer regional collaboration and sustainable Indo-Pacific growth.