Sri Lanka-India printing corridor presents vision for regional resilience and shared prosperity

A groundbreaking initiative, the potential of the India-Sri Lanka Printing Corridor was highlighted last week at the 8th Round Table Conference in Colombo, positioning itself as a strategic and visionary response to the complexities of the evolving global landscape.

- By NISHEL FERNANDO

Spearheaded by industry leaders and championed by figures such as Dhammika Siriwardana, this collaboration in the printing and packaging sectors aims to forge a deeply integrated value chain, leveraging the unique strengths of both nations to propel them into a high-growth trajectory within global markets.

Dhammika Siriwardana, addressing the conference, emphasized that the corridor is "not merely a bilateral trade initiative, but a visionary strategic response to the evolving global landscape.

"In a world grappling with shifting trade alliances, geopolitical tensions, and reconfiguring supply chains, the imperative for resilient regional partnerships has never been stronger. The initiative seeks to navigate global uncertainties, promote stability, and ensure mutual growth within a predictable framework, acting as a localized hedge against the fragmentation of global supply chains.

The printing and packaging industry, currently valued at over US$ 1.16 trillion globally and demonstrating a Compound Annual Growth Rate (CAGR) of 4.2 percent, is anticipated to undergo substantial expansion, particularly within the Asian region. This backdrop sets the stage for India and Sri Lanka, historically and culturally intertwined, to collaborate on a common goal, particularly as the rest of the world contends with trade tariffs and policy uncertainties.

India's role in this corridor is envisioned as the "scale engine." With a nominal GDP estimated to reach US$ 4.19 trillion in 2025 and a paper packaging market valued at over US$ 1.2 billion in 2023 (projected to hit US$ 2 billion by 2030), India offers an immense domestic market and a robust manufacturing capacity.