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`Lanka a major export market'

Our Bureau

NEW DELHI, Dec. 24

THE free trade agreement between India and Sri Lanka would further facilitate investment and expand bilateral trade between the two countries, according to the President of the Confederation of Indian Industry (CII), Mr Arun Bharat Ram, on Saturday.

A CII statement, issued after the return of Mr Arun Bharat Ram from a two-day visit to Sri Lanka, states that the island nation is a major export market for Indian goods in South Asia.

India's exports to Sri Lanka have increased from $430 million during 1997-98 to $520 million during 1999-2000 while imports from Sri Lanka have also increased from $27 million to $46 million. ``The free trade agreement will provide a greater momentum to this growth,'' he said.

The CII President was accompanied by a high-level delegation which included the CEO of Aptech, Mr Ganesh Natarajan, the CEO of Zee Interactive Learning Systems, Ms Uma Ganesh, and Mr Shivdas Menon, Managing Director, Sterling Farm and Research Services.