Despite Sri Lanka been slow on implementation India is still interested in the Economic and Technology Cooperation Agreement (ETCA). The fire brands of the left as well as the blooming buds have labaled this agreement as controversial. Understanding Sri Lanka’s difficulties and political constrains India is Willing to move at Sri Lanka’s phase .
The Indian High Commissioner to Sri Lanka Taranjit Singh Sandhu, said that nearly 60% of Sri Lankan exports now take advantage of the concessions.
Secretary of the Society of Information Technology Professionals, Lasantha Wickramasinghe said that if you analyze the impact of this agreement on Sri Lanka’s balance of payments, it is not that difficult to understand that ETCA is detrimental to our country’s economy. Unfortunately, Sri Lanka has not engaged in any fruitful dialog in this regard.
He said that ETCA will destroy the Sri Lankan Information Technology industry. .
“Information Technology is the largest net foreign exchange earning industry in the service sector next to tourism. This industry should be identified as a sector with a huge potential as it is one of the few sectors that has a competitive advantage over other countries. ETCA will destroy our competitive advantage in the IT sector said Lasantha Wickramasinghe.