India and Sri Lanka are the nearest neighbours separated by Palk Strait. The relationship between the two countries is more than 2,500 years old and both sides have built upon a legacy of the intellectual economic relationship. Both the nations are active members of many regional and multilateral organizations like the South Asian Association for Regional Cooperation (SAARC), South Asia Cooperative Economic Program and BIMSTEC, working to upgrade the economic ties. With the signing of the bilateral trade agreement between both the economies in 2000, India export to Sri Lanka over the years has increased from $ 0.6 B in 2001 to $ 4.5 B in 2017.
India export to Sri Lanka amounted to $5.3 billion in 2015-17 whereas its imports from the country were at $743 million, altogether the total Indian export averaged nearly 26.48 INR Billion from 2014 to 2019, reaching an all-time high of 53.84 INR Billion in April 2015.
Major exports of India to Sri Lanka accounts for 66% of the total exports to Sri Lanka. The top exportable products include vehicles other than railway (15.24%) followed by aircraft, space crafts (10.09%), mineral fuels (9.07 %), ships, boats,(6.3%), cotton (5.91%) among others. Around 20% of the Sri Lankan imports arise from India for products like space crafts, boats, pharmaceutical products, organic chemicals, vehicles, mineral fuels, etc.
The list of India exporters exporting to Sri Lanka -
Sri Lanka is India's second-largest trading partner in the south Asian association for regional cooperation (SAARC). India is the third-largest export destination for Sri Lankan products absorbing 6% of total exports.
There have been phases of negotiation between Sri Lanka and India on the economic technology cooperation agreement (ECTA). If the agreement came into force, there would be an expansion of the existing free trade pact in goods promoting more India export to Sri Lanka.
Seair Exim Solutions is an import export data provider firm in India. It offers updated, 100% genuine, real, actual, trusted and reliable global trade data of more than 80 countries such as India, USA, Russia, Mexico, Indonesia, Vietnam, etc. Our major services are US import data, Indian import data, India export data, import data Indonesia, Vietnam export data, Russia customs data, Mexico trade data, Kenya shipment data etc. You can find various free resources related to import export business like list of HS codes, HS code search, HS code finder, sac code list, sac code finder, custom duty India, custom import duty India, custom duty calculator, foreign ports, trading partners of India, GST rates in India, GST rates list and many more on our website – seair.co.in.
For free sample data report and free live demo data search contact us-
Phone No: +91-11-41325515, + 919990020716
Email Id- firstname.lastname@example.org
We have successfully served many reputable clients for Import-Export Data Information Services. Here are some of our clients: