Fifty Indian companies participate in India Investrade 2012 on ‘Realty Construction & Construction Materials’
Indian Chamber of Commerce, Kolkatta organized "India Investrade 2012: An exposition and Buyer Seller Meet on Realty Construction & Construction Materials" from 26-28 April, 2012 at BMICH, Colombo.
The event was organized with the support of Ministry of Commerce & Industry, Government of India and in association with Ministry of Construction, Engineering Services, Housing & Common Amenities, Government of Sri Lanka, Federation of Chambers of Commerce and Industry of Sri Lanka and The National Chamber of Commerce of Sri Lanka.
Fifty Indian companies participated in the exposition showcasing their profile in building materials, construction equipment & technologies, electrical & sanitary fittings, flooring & roofing material landscaping, consultancy, property development, financial service for construction. The Ministry of Construction, Engineering Services, Housing & Common Amenities, Government of Sri Lanka, Board of Investment, Federation of Chambers of Commerce and Industry of Sri Lanka and The National Chamber of Commerce of Sri Lanka also put up their stalls at the exhibition.
The three day event comprised of Exhibition, Conference and Buyer-Seller Meet. The purpose of the event was to promote and facilitate trade and business engagement in construction and construction material sector, provide a platform to introduce the Indian entrepreneurs with their Sri Lankan counterparts and promote the process of business engagement, exchange of ideas and facilitate G2G, G2B and B2B interaction on various issues pertaining to the construction industry of both the countries.
The inaugural programme of the exhibition on 26 April, 2012 at BMICH was graced by Basil Rajapaksa, Minister of Economic Development, Ashok K. Kantha, High Commissioner of India, Lasantha Alagiyawanna, Deputy Minister, Ministry of Construction Engineering Services, Housing & Common Amenities and Nandimithra Ekanayake, Deputy Minister of Higher Education. The event was also attended by Mr. Kumar Mallimaratchi, President, Federation of Chambers of Commerce and Industry of Sri Lanka, Mr. Sunil Wijesinha, Deputy President, The National Chamber of Commerce of Sri Lanka, Mr. Rajiv Mundra, Senior Vice President, Indian Chamber of Commerce and Dr. Rajeev Singh, Director General, Indian Chamber of Commerce.
The Chief Guest for the event, Basil Rajapaksa in his address said that the Sri Lankan economy has been growing over 8% percent in the past two years, which has resulted in high growth in the construction sector.
He said that India has achieved a lot in the construction sector and the Indian companies can play a role in the Sri Lankan market by partnering with Sri Lankan companies. Commenting on the India-Sri Lanka Free Trade Agreement, Minister Rajapaksa said that FTA has been helpful in rapid growth of bilateral trade and invited the Indian companies to invest in Sri Lanka in sectors like construction, tourism, education and skill development.
The High Commissioner of India, Ashok K. Kantha in his address highlighted the robust trade and investment links between India and Sri Lanka. He said that bilateral trade has increased by over 65% last year to reach close to US$ 5 billion.
Indian companies have invested close to US 150 million in Sri Lanka last year. He said that both countries are witnessing a boom in real estate segment and construction industry, which provides opportunities for enhanced cooperation. He noted that in both countries construction sector is likely to grow faster than broader economy over the next five years. High Commissioner Kantha outlined the opportunities for Indian companies in Sri Lanka and likewise for Sri Lankan companies in India. He appreciated the cooperation extended by various agencies of the Government of Sri Lanka and the two Chambers for organizing the event.
In their remarks, the representatives of the two Sri Lankan Chambers complimented the Indian Chamber of Commerce for taking initiative to organize a specialty construction exhibition in Sri Lanka, which they felt was long overdue.
They expressed hope that both sides would develop synergies for mutual benefit. They welcomed the Indian companies and extended their Chambers’ support and cooperation in their ventures in Sri Lanka and hoped that collaborative partnership between Indian and Sri Lankan companies will bring down the cost of construction and construction materials in Sri Lanka.
Basil Rajapaksa and other dignitaries visited all the stalls of the Indian exhibitors. The inaugural session was attended by over 250 delegates and invitees.
On 27-28 April, technical sessions were organized for the benefit of delegates from both sides with the participation of representatives from National Institute of Construction Management and Research, India; Ministry of Urban Development, Government of India; Central Public Works Department of India; Central Engineering Construction Bureau, Sri Lanka; Chamber of Construction Industry, Sri Lanka, Institute of Construction Training and Development, Sri Lanka; Board of Investment of Sri Lanka; Indian Chamber of Commerce; National Chamber of Commerce of Sri Lanka; National Construction Association of Sri Lanka; State Engineering Corporation of Sri Lanka; IL & FS, India and delegates from both sides.
The members of the Indian delegation called on Lasantha Alagiyawanna, Deputy Minister, Ministry of Construction Engineering Services, Housing & Common Amenities and had discussion with various departments and institutions under his Ministry. Deputy Minister had one to one meeting with several representatives Indian companies on 27 April, 2012 at BMICH. A special presentation was organized by Ministry of Construction Engineering Services, Housing & Common Amenities on 28 April, 2012 for the Indian delegates. The Indian delegates also met the officials of Urban Development Authority and Road Development Authority. Several B2B were held during the exposition over the three days.
- Asian Tribune –