The Ceylon Chamber of Commerce and the Southern Gujarat Chamber of Commerce and Industry (SGCCI) of Surat, India, have renewed a memorandum of understanding aimed at deepening business ties between Sri Lanka and the western Indian state.
The agreement was signed by Ceylon Chamber Chairperson Krishan Balendra and SGCCI President Ashok Jirawala during a visit by an SGCCI business delegation to Colombo.
“The renewal comes as businesses from both markets look at more specific opportunities for trade, investment and commercial partnerships,” the Ceylon Chamber said.
Apparel, gems and waste-to-energy
The visiting delegation represented textiles and apparel, textile materials, garment accessories, manufacturing and industrial products, gems and jewellery, waste management and waste-to-energy, information technology, and spices and processed foods.
Textile and apparel talks examined opportunities for Gujarat-based suppliers to connect with Sri Lanka’s apparel manufacturing base, the chamber said, while makers of garment accessories and industrial products explored supply and distribution partnerships.
The visitors also “expressed interest in sourcing Sri Lankan sapphires and other gemstones and exploring connections with local jewellery manufacturers, industry associations and women entrepreneurs.”
Discussions further covered investment and technology opportunities including waste-to-energy solutions and digital technologies, alongside trade in spices and processed food products.
Under the renewed pact both chambers will continue to facilitate business-to-business introductions, share market and industry information, and support companies in each other’s markets. The signing was followed by an interactive business networking session between the delegation and Sri Lankan companies.
Gujarat is one of India’s most industrialised states and a major centre for textiles, chemicals and diamond processing, with Surat in particular a global hub for gem cutting and polishing.
Sources: EconomyNext, Hiru News.
