Thursday, August 19, 2010

Mahindra & Mahindra is planning to invest in Sri Lanka

With the end of the civil war, many Indian companies are now planning to invest in Sri Lanka. Famous Indian business conglomerate, Mahindra and Mahindra group announced that it would invest in tourism and financial services and also focus on increasing vehicle sales in the country.

Anand Mahindra, Vice Chairman and Managing Director of the Mahindra Group came on a two-day visit to Sri Lanka. He attended discussion with the Sri Lankan government officials to explore business opportunities in the country.

During his visit, he said, "Sri Lanka can provide a platform for large multinationals like us,……There is a feeling of Sri Lanka being on the move……A group like ours is capable of integrating and aligning with the new growth opportunities in Sri Lanka,……We can engage Sri Lanka in all these 10 sectors. We think there are huge opportunities in each of these sectors."

Mahindra would send a bigger team from all of its 10 business sectors to Sri Lanka pretty soon. The representatives would talk with the Board of Investment.

Lanka Business Online reported that Mahindra group would introduce its tractors and other agricultural equipment and vehicles in the country that would be sold through its local partner, Ideal Motors.

Due to the increasing number of tourists from India, Mahindra Holidays and Resorts is also planning to invest in the tourism sector of the country.

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