This has been revealed by the Indian High Commissioner in Sri Lanka, Ashok K. Kantha when he addressed the AGM of the Indo Lanka Chamber of Commerce held recently in Colombo.
According to him, the trade between India and Sri Lanka has accounted for 6.5% of the total trade of Sri Lanka during the year 2011.
However, during the first half of this year, the high commissioner has said that the trade between the two nations is not so rosy.
“The export industry, Sri Lanka to India and vice versa has had a huge drop” the High commissioner was quoted in the statement issued by the Indo Lanka Chamber of Commerce.
President of Indo Lanka Chamber of Commerce Vish Govindasamy has said that there are many issues to be ironed out between the two countries for trade to see further growth.
Trade between Sri Lanka and India has grown rapidly over the years thanks to signing of the Indo-Lanka free trade agreement.
India is Sri Lanka’s number one source for imports, while it is also Sri Lanka’s third largest export destination.