High Commission of India
Colombo

PRESS RELEASE

25 years of ISFTA – Powering the next wave of Trade, Investment & Growth

The High Commission of India, Colombo, in collaboration with Indo Lanka Chamber of Commerce and Industry (ILCCI) organized an event titled ‘25 years of ISFTA – Powering the next wave of Trade, Investment & Growth’ on 23 June 2026 in Colombo. 

2. This event was organized to commemorate completion of 25 years of India Sri Lanka Free Trade Agreement which came into force in 2000 and since then, has contributed significantly to the growth of bilateral trade between India and Sri Lanka. 
   
   
3. Hon. Mr. Sunil Handunneththi, Minister of Industry and Entrepreneurship Development, Government of Sri Lanka, Hon. Mr. Wasantha Samarasinghe, Minister of Trade, Commerce, Food Security and Cooperative Development, Government of Sri Lanka, Hon. Mr. Hanif Yusoof, Governor of Western Province, graced the event. Hon Members of Parliament, Senior Government officials, prominent business leaders, representative of key business chambers, think tanks and media also attended the event, highlighting the strong bilateral economic relationship.
   
   
4. The event commenced with the welcome remarks by Mr. M. Raghuraman, President, ILCCI who emphasized on the need to upgrade the India Sri Lanka FTA and enumerated the efforts taken by ILCCI to facilitate Sri Lankan companies looking to enter the Indian market. In his remarks, Hon. Mr. Sunil Handunneththi, Minister of Industry and Entrepreneurship Development highlighted the efforts to further strengthen bilateral trade relations with India and create new market opportunities for Sri Lankan industrialists and emerging enterpreneurs. Hon. Mr. Wasantha Samarasinghe, Minister for Commerce, Food Security and Cooperative Development appreciated the longstanding economic cooperation between India and Sri Lanka and mentioned how the ‘India Trade Desk’ could become a major turning point for the Sri Lankan business sector. Ms. Devika Lal, Counsellor (E&C), High Commission of India, mentioned the opportunity that the Indian growth story provides for Sri Lanka which is demonstrated by the almost doubling of merchandise trade and India emerging as the second largest market for Sri Lankan exports.
   
   
5. On the occasion, the Indo Lanka Chamber of Commerce and Industry (ILCCI) launched its India Desk, which will be run by the Global Investment and Trade Advisors (GITA), an Indian trade and investment promotion agency. This Desk has been designed to provide the Sri Lankan businesses with essential regulatory guidance, market intelligence regarding the Indian market and structured engagement opportunities with Indian stakeholders. 
   
   
6. The launch of the India Trade Desk was followed by a panel discussion, including spotlight remarks from Dr. Harsha De Silva, Hon. Member of Parliament, who mentioned the need for upgrading the India Sri Lanka FTA. The panel discussion served as a platform of exchange of varied ideas, insights and experiences by the industry experts and think tanks representatives. 

7. The event highlighted the strong bilateral economic partnership between India and Sri Lanka and the shared aspirations for deepening this relationship through entrepreneurial collaboration, supply chain partnerships and developing the institutional mechanisms that would facilitate these important aspects. 

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Colombo
24 June 2026