Indian High Commission in Sri Lanka launched a handbook on Free Trade Agreement (FTA) in Colombo on 15 May 2013. FTA has helped Sri Lanka increase its exports to India manifold and the trade imbalance has decreased as a result of the favourable terms of the Free Trade Agreement between the two countries.
Sri Lankan businessmen need to take advantage of India’s vast market and aim at becoming a part of supply chains in Indian industry.
India-Sri Lanka Free Trade agreement was the first of such agreements that was signed by India. It had come into effect in the year 2000 and has helped trade between the two countries grow from 400 million dollars to over 5 billion dollars in a decade.