India’s consumer growth offers opportunity for SL firms: Reliance Consumer Products chief

PIC BY PRADEEP DILRUKSHANA

The Sri Lankan businesses can reach more Indian consumers by joining forces with Indian companies, visiting Reliance Consumer Products chief said, citing his company’s launch of products from two Sri Lankan partners as evidence of the opportunity.

Reliance Consumer Products CEO T. Krishnakumar yesterday called for deeper commercial cooperation spanning product development, manufacturing, sourcing, packaging and distribution.

He said India’s economic growth, expanding middle class and rising consumer aspirations were opening opportunities across sectors. Sri Lankan enterprises could participate in that growth by combining their capabilities with those of Indian businesses.

“There is room to deepen trade and to build more together. Indian and Sri Lankan enterprises can combine their strengths in product development, manufacturing, sourcing, packaging and distribution,” he said, while addressing a fully packed audience at Sri Lanka Economic Summit 2026, organised by the Ceylon Chamber of Commerce.

Geographical proximity and long-standing cultural ties provided a strong starting point, while Sri Lanka’s capabilities in consumer products offered scope to build partnerships serving both markets.

Backing that assessment with Reliance’s experience, Krishnakumar said the company had developed relationships with four Sri Lankan businesses over the past four years. Products from two had already entered the Indian market.

“We have in the last four years built relationships with four Sri Lankan companies and we have already launched two of the companies’ products in India with reasonable success,” he said.

Krishnakumar said Reliance valued the knowledge and capabilities Sri Lanka had developed in consumer products. Its approach was to build partnerships through which both sides could grow, learn and create lasting value.

However, turning commercial opportunities into enduring relationships required time and care. Mutual confidence, perseverance, respect for commitments and a fair sharing of benefits were essential to sustaining partnerships through changing business conditions, he noted.

Consumer understanding was equally important since, despite greater awareness, wider choice and rising expectations, consumers continued to seek dependable quality, fair prices and products suited to everyday life.

Krishnakumar said Sri Lanka’s valued brands and distinct tastes offered opportunities beyond the domestic market. Listening to the customers who knew and trusted those brands could help businesses understand how to develop their offerings for wider markets while respecting their heritage.

Drawing on Reliance’s experience, he said the effort to make improved products accessible to more households had encouraged changes in design, sourcing, manufacturing and distribution.

Meanwhile, Krishnakumar pointed out that digital tools could further widen market access as payments platforms, digital commerce and better information could help businesses serve consumers and enable smaller enterprises to participate in larger markets.

He identified digitisation and artificial intelligence as significant opportunities for companies, stressing that businesses also needed the skills and support to use those tools confidently and responsibly.

On investment, Krishnakumar said incentives needed to be accompanied by clarity and consistency. Clear tax policies, dependable regulation, timely approvals and effective mechanisms to resolve difficulties, help businesses plan and sustain long-term commitments to employees, suppliers and communities.

Continued dialogue between the government and industry could strengthen that confidence and support Sri Lanka’s development as a regional centre for manufacturing and services.

He also urged the businesses to invest in employees, strengthen links with educational institutions and support smaller enterprises, enabling Sri Lanka’s skills and entrepreneurial talent to contribute more fully to growth.

Krishnakumar asserted closer India-Sri Lanka cooperation could strengthen enterprises and improve their ability to serve consumers in both countries. Growth in either market, he added, could create opportunities for the other. (SAA)