Officials recently announced India as the lead source of imports to Sri Lanka, surpassing previous leaders China and Singapore. Sri Lanka’s Investment Promotion Minister, Lakshman Yapa Abeywardene, is confident that this increase in imports  is a direct result of the free trade agreement with India.

According to Business Standard, India accounted for 18% of Sri Lanka’s total imports compared to 16% from China and 9% from Singapore. Industry professionals don’t expect the growth trend to slow any time soon.

“Indian firms and their joint ventures in Sri Lanka not only help fill local demand but even have become part of Sri Lanka’s exports back to India,” states export professional, Ramesh Mutha. The recent increases led the two nations to explore furthering their relationship to include joint tourism and healthcare projects.