India–Sri Lanka Aim to Double $5B Trade Through ISFTA
Opening with national anthems and a diya-lighting ceremony, the event featured dignitaries including Dr. Vijay Kalantri, Chairman of WTC Mumbai, and Ms. Shirani Ariyarathne, Acting Consul General of Sri Lanka. Dr. Kalantri emphasized the need to double the existing $5 billion trade volume by leveraging regional frameworks like SAARC, APTA, SAFTA, and ISFTA.
Ms. Ariyarathne noted India's position as Sri Lanka's largest import source and highlighted opportunities in sectors such as Ceylon tea, spices, apparel, batik, jewelry, electronics, and essential oils, adding that Sri Lanka's GSP+ status under the EU could benefit Indian exporters entering global markets.
Mr. Mangala Wijesinghe, Chairman of the Export Development Board (EDB), discussed Sri Lanka's diversification into high-growth sectors like ICT, electronics, and processed food. He announced upcoming trade engagements including Sri Lanka Expo 2026 and the Design Mumbai Expo visit in November 2025.
Tourism potential was reinforced by Mr. Buddhika Hewawasam, Chairman of Sri Lanka Tourism Development Authority, who announced a Travel Fair from July 31–August 2 and shared Sri Lanka's target of welcoming 3 million tourists through increased connectivity and digital tourism strategies.
WTC Mumbai and AIAI will also lead a business delegation to Colombo in September 2025 to attend Industry 2025 Expo, featuring over 400 exhibitors. Meanwhile, Disrupt Asia 2025, a leading innovation summit in Sri Lanka, will debut a $50 million fund of funds and include startups from IIT Madras, shared Mr. Sachindra Samarasundara from ICT Agency of Sri Lanka.
Mr. Suman Udayakumaran of Sri Lankan Airlines advocated for expanded air travel ties, noting India's aviation market growth and Sri Lanka's strategic proximity.
The summit concluded with a united commitment to strengthen trade, tourism, technology, and innovation collaboration. With ISFTA as a catalyst, India and Sri Lanka are poised to build a more integrated and resilient Indo-Pacific economic corridor.
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