(UTV|COLOMBO) – To help Sri Lankan companies eyeing the daunting Indian market, the International Trade and Development Strategies Ministry yesterday launched a new report to assist breaking into India, with Minister Malik Samarawickrama undertaking a visit to India this week to help local businesses find success across the Palk Strait.
The report titled ‘Entering the Indian market: Lessons from Sri Lankan firms that did it’ looks into the strategies used by about 30 companies to establish themselves, and is the first in a two-step process to encourage more Sri Lankan companies to tap into the Indian market.
The second part of the ‘Break into India’ strategy, which was launched last year by the Ministry, is an in-depth Market Entry Study, for which the Request for Proposals was published by the Export Development Board (EDB) this week.
An international expert will be recruited to conduct research that provides any current or prospective Sri Lankan exporter or investor into India with in-depth market entry knowledge, including mapping of entry requirements, regulatory frameworks, institutions and market potential to smoothen entry.
Under this component, there will also be a business-to-business facilitation where market linkages will be forged for Sri Lankan businesses in priority sectors.
Parallel to the report launch, Minister Samarawickrama said he will travel to India today to meet with prospective investors and top business to drum up interest in investing in Sri Lanka. (DFT)