Local agri and processed food sector explores Mumbai for exports

• Promotional initiative kicked off under Export Economic Policy
• Local biz urged to capitalise in India’s increasing middle class
• Exporters called on to explore non-traditional areas
• B2B meetings scheduled between companies from both countries to continue dialogue

The local agri and processed food sector is offered a platform to be showcased in India with the launch of the Sri Lanka Agri products and Processed Food Promotion Programme in Mumbai.

The project falls under the implementation programme of the Export Economic Policy set out by President Gotabaya Rajapaksa.

As demand for processed food has been observed to be growing substantially due to the increasing urban middle class in India, Sri Lankan exporters were urged to tap into the prevailing opportunities.

To strengthen the implementation process, the Sri Lanka Consulate in Mumbai together with the Ceylon Chamber of Commerce (CCC) and the IMC Chamber of Commerce & Industry (IMC) facilitated a webinar that explored the current business environment and opportunities between the two countries for joint collaboration in the agri and processed food sector.

The webinar, which attracted over 80 businesses from both countries, was the first online forum targeting to promote and diversify Sri Lanka’s agri products and processed food segment to the Indian market.
Exporters in these segments were urged to focus on non-traditional exports to the Indian market and utilise the unique duty concessions offered to Sri Lanka for agri products under India Sri Lanka Free Trade Agreement (ISFTA).

According to Sri Lanka Consul General in Mumbai Chamari Rodrigo, joint ventures between Sri Lankan agro industry and Indian post-harvest industry could yield many benefits for both countries through technology transfers and advanced machinery. Meanwhile the IMC Chamber was of the view that there are a number of opportunities to create synergies between the two countries in the agri and processed food sectors. IMC Chamber President Rajiv Podar pointed out that via joint ventures, Sri Lanka could benefit as they would be exposed to improved food processing and post-harvest technology which India has expertise in.

The CCC identified that potential sectors for value addition are aqua culture, value added coconut products, and confectionery, which can benefit from investments from India.

Furthermore, Sri Lankan Agripreneurs Chairman Rizvi Zaheed highlighted that Sri Lanka could be used as a window for Indian agri products to enter markets such as China, Japan and European countries by leveraging on the reputation of Sri Lankan agri products on a preferential basis.

To keep the dialogue moving forward, B2B meetings are scheduled to take place between Indian and Sri Lankan companies before the end of October.