Indian business leaders who were in Sri Lanka for FICCI IIFA Global Business Forum are keen on investing in Sri Lanka and they are highly inspired by President Mahinda Rajapaksa for eradicating three decades of war in the country, Indian Chamber of Commerce - Aviation Tourism and Hospitality Committee Chairman and STIC Travel Group Chairman Subhash Goyal told Daily News Business.
There are opportunities for joint ventures in gem and jewellery industry, food processing and packaging with India.
“We are looking at business opportunities in hotel sector, property development on large-scale shopping complexes and IT sector. Sri Lanka could develop as a shopping hub in the region specially targeting Indian tourists,” he said.
Indians are the number one shoppers in Malaysia, Singapore and Dubai with high purchasing power.
There are over 200,000 tourist arrivals from India to Sri Lanka per annum.
The Indian Rupee is strong against the Sri Lankan Rupee and Indian shoppers have value for money when doing their shopping in Sri Lanka.
Same shopping items could be purchased in Sri Lanka cheaper than in Malaysia and Singapore. However, the country needs world class shopping complexes to cater for this untapped opportunity.
“We can predict a 100 percent increase in Indian tourists arrivals in coming years.
There should be a mechanism for direct acceptance of Indian Rupees when converting them to Sri Lankan Rupees, for facilitating Indian arrivals,” he said.
In developing regional tourism the South Asian Region must have one visa system which is valid for travelling in all South Asian countries in the region just like in European Union.
Sri Lanka should not only focus on the up market. It is important to focus on other market segments such as budget tourists, medical tourism and ayurvadic tourism. Sri Lanka is a country with natural beauty, rich in culture, heritage and religion which are ideal for promoting tourism. Sri Lanka has the capability of catering for all segments in the market.
The Sri Lankan tourism industry is also equipped with star class hotels and high standard skilled labour force.
“Other necessary infrastructure such as air ports and roads are also being developed rapidly in Sri Lanka,” he said.
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