Chairman of the Ceylon Chamber of Commerce and John Keells Group Krishan Balendra has thrown light on Colombo’s strategic importance as a key maritime hub for Indian trade and transshipment and stressed that Colombo is ‘a port for India’ while addressing WION’s Global Innovation & Leadership Summit.
Published: May 2, 2026 6:23 PM IST
The economic ties between India and neighbouring Sri Lanka have been deepening over time now. Speaking about the same at WION’s Global Innovation & Leadership Summit held in Colombo on Saturday, Chairman of the Ceylon Chamber of Commerce and John Keells Group Krishan Balendra, described Colombo as ‘a port for India’.
The remark underscores Colombo’s strategic importance as a key maritime hub for Indian trade and transshipment, aligning with growing bilateral cooperation in ports, shipping, and investment. Balendra, a prominent Sri Lankan business leader, highlighted opportunities for Indian capital in Sri Lanka amid the island nation’s economic recovery and India’s expanding regional footprints.
Opportunities for Indian businesses in Colombo
Speaking about India-Sri Lanka relations and opportunities for Indian businesses, the Chairman of the Ceylon Chamber of Commerce highlighted strong investments in the ports and logistics sector. He said Colombo Port, the region’s largest, effectively functions as a hub for India, with nearly 85 per cent of its traffic being transshipment, largely involving Indian cargo.
He further added, “I think there will be significantly more growth because India will be needing a lot of port capacity and Colombo is well placed to be a transshipment hub for India and the rest of South Asia.”
Maritime convergence
The remarks were made as India continues to invest heavily in Sri Lanka’s ports and shipbuilding sector. In a significant development, Mazagon Dock Shipbuilders Limited (MDL) of India has acquired a 51 per cent controlling stake in Colombo Dockyard PLC (CDPLC) for $26.8 million. The deal marks MDL’s first international acquisition and aligns with India’s Maritime Amrit Kaal Vision 2047.
The deal includes reconstituting CDPLC’s board with MDL nominees, positioning India to enhance shipbuilding, repair, and strategic maritime presence in the Indian Ocean. Colombo Dockyard’s location within the Port of Colombo, a vital node on major shipping lanes, adds significant strategic depth.
All about Colombo Dockyard
Colombo Dockyard is the Sri Lankan government’s leading shipbuilder and ship repair firm. It services more than 200 ships yearly and can handle vessels up to 125,000 deadweight tonnage. It also has clients and government contracts across Asia and Africa.
Located within the port of Colombo, the company is Sri Lanka’s biggest dockyard and a publicly listed firm, operating for more than five decades. Previously owned by Japan’s Onomichi Dockyard, it has been mired in financial problems in recent months.
The summit, hosted by Zee Media in Colombo, brought together business leaders, policymakers, and experts from both countries to discuss innovation, trade, and investment under the theme of leadership in a changing global order.
