There is a huge scope for collaboration between India and Sri Lanka in the area of real estate, town planning and infrastructure development.
The island nation already has Indian companies like Ansal Housing, SMS property developer who have invested in housing and civil construction projects.
“There is demand for construction services, especially town planning. Sri Lanka will be building housing units (65,000) in five districts and India can capitalise on this,” said Vadivel Krishnamoorthy, Deputy High Commissioner of Sri Lanka in Southern India on the sidelines of a formal interaction with the business community after assuming office for the second time.
The 65,000 housing units will be built in the districts of Jaffna, Killinochchi, Mannar, Mullaithivu and Vavuniya in the Northern Province and in the districts of Trincomalee, Batticaloa and Ampara in the Eastern province.
“These houses are built to resettle the families who were displaced, due to internal conflict,” Mr. Vadivel said.
Apart from real estate, India and Sri Lanka would be inking a deal on the IT front.
More details on this would be revealed post the budget session in Sri Lanka.
Mr Vadivel said that there are talks between both countries in the IT space but refused to divulge further details.
The Deputy High Commissioner said promoting trade between the two countries would be his priority during his second innings here.
“Although the two countries have encountered certain impediments or irritants in regard to the maintenance of smooth commercial engagements, we should not let these impediments become major issues, which may hamper the concerted efforts towards the more consolidation of commercial and economic relations. Both countries should not lose their sight of the overall and the mutual benefits that will accrue to our countries, simply because these peripheral irritants,” he added.
Apart from real estate, the countries will be inking a deal on IT front
