Express News Service
The timing of the Sri Lankan economic crisis could not have been worse for Indian businesses. The uncertainty due to the geopolitical crisis in eastern Europe is already taking a toll on exporters, travel and tourism industry and all other businesses in general, and now with the Sri Lankan economy floundering in the neighbourhood, things can’t get bleaker.
The island nation is smaller in size but is of significant interest for India, both strategically and economically. Several Indian companies have a presence in the country.
According to Indian High Commission in Sri Lanka, major investments from India are in the areas of petroleum, retail, IT, financial services, real estate, telecommunication, hospitality & tourism, banking and food processing, metal industries, tyre manufacturing, cement, glass manufacturing, infrastructure development (railway, power, water supply) etc.
Companies like Tatas, Bharti Airtel, Indian Oil, Mahindra &…