The India-Sri Lanka Business Forum, organised by CII in partnership with the Ceylon Chamber of Commerce in Mumbai, has identified six areas for collaboration: ports, transport and logistics, pharmaceuticals, online payments, travel, and the existing free trade agreement (FTA). Officials from both sides said these sectors offer immediate investment and trade opportunities.

The forum offered Indian businesses direct engagement with a Sri Lankan delegation representing diverse industries. It will help the two countries strengthen economic engagement and explore new avenues of cooperation across priority sectors.

Ports and logistics

Krishan Balendra, chairperson of The Ceylon Chamber of Commerce and John Keells Holdings PLC, said logistics firms from both countries can form joint ventures for warehousing and cold storage. Transport links, including shipping routes and rail connectivity to Indian ports, were also discussed.

Pharmaceuticals

Sri Lankan buyers expressed interest in sourcing generic drugs from India’s pharma cluster in Mumbai and Pune. Anurag Agarwal, co-chairman of CII WR Sub-committee on International Trade & Investment and CEO of Polycab India, noted that the existing FTA allows zero or low duties on many drug formulations. Both chambers agreed to share lists of registered pharma companies. India’s FDA-approved drugs are already trusted in Sri Lanka, and a faster clearance mechanism was proposed.

Online payments and travel

Sri Lanka is exploring cross-border digital payment links with India. The Ceylon Chamber stated that UPI-like systems can reduce transaction costs for tourists and traders. Indian fintech firms were invited to pilot such services in Colombo and Kandy. Travel circuits now include electronic visa on arrival for Sri Lankans landing in Mumbai.

FTA review

The existing FTA, covering over 4,000 products, will be reviewed to add pharmaceutical raw materials and logistics equipment. Shiran Fernando, secretary general & CEO of The Ceylon Chamber, said a joint working group on trade facilitation will meet in August 2026.