Sri Lankan businesses have an opportunity to strengthen their presence in India’s expanding consumer market through strategic partnerships with Indian companies, according to Reliance Consumer Products Chief Executive Officer T. Krishnakumar.
Speaking at the Sri Lanka Economic Summit 2026, organised by the Ceylon Chamber of Commerce, Krishnakumar encouraged stronger commercial cooperation between the two countries, highlighting opportunities in product innovation, manufacturing, sourcing, packaging and distribution.
He noted that India’s economic development, expanding middle-income population and changing consumer preferences were creating favourable conditions for businesses looking to reach new customers.
Sri Lankan enterprises, he explained, could benefit from these developments by combining their expertise and resources with the market knowledge, distribution networks and operational capabilities of established Indian companies.
Krishnakumar emphasised that bilateral business cooperation should extend beyond conventional trading activities to include joint product development, collaborative manufacturing and integrated supply chains.
Such arrangements could enable companies from both countries to improve operational efficiency, develop competitive products and strengthen their ability to serve consumers across regional markets.
Sri Lanka’s geographical closeness to India and the longstanding cultural connections between the two nations provide a strong foundation for expanding these relationships.
Additionally, Sri Lanka’s experience in developing consumer products, together with its established domestic brands and distinctive product offerings, creates opportunities for successful entry into India’s extensive consumer marketplace.
Sharing Reliance Consumer Products’ experience, Krishnakumar revealed that the company had established commercial relationships with four Sri Lankan businesses over the previous four years.
These partnerships have already produced tangible results, with products from two of the Sri Lankan companies successfully introduced to Indian consumers.
The initial market response has been encouraging, demonstrating the commercial potential of Sri Lankan products when supported by appropriate partnerships and market access.
Krishnakumar acknowledged the considerable knowledge and capabilities developed by Sri Lankan companies within the consumer goods sector.
He explained that Reliance’s approach to international collaboration focuses on establishing relationships that allow participating businesses to exchange expertise, expand their capabilities and generate sustainable value.
However, he emphasised that successful cross-border partnerships require long-term commitment rather than an exclusive focus on immediate financial returns.
Trust, patience, mutual respect and consistency in fulfilling obligations are essential characteristics of productive commercial relationships.
An equitable distribution of benefits is equally important, particularly when businesses must respond to changing economic circumstances and competitive pressures.
Understanding consumer expectations was another major theme of Krishnakumar’s address.
Although modern consumers have access to more information, greater product variety and increasingly sophisticated purchasing options, their fundamental expectations remain largely consistent.
Quality, affordability, reliability and suitability for everyday use continue to influence purchasing decisions across consumer markets.
For businesses planning international expansion, recognising these priorities is essential to developing products capable of achieving long-term acceptance.
Krishnakumar observed that Sri Lanka possesses a range of well-established brands and distinctive consumer products with potential appeal beyond the domestic market.
The country’s unique flavours, product traditions and established consumer preferences could provide a competitive advantage when introducing Sri Lankan goods to new audiences.
Nevertheless, expanding internationally requires businesses to understand what makes their products valuable to existing customers.
Feedback from loyal consumers can provide important insights into product quality, brand identity and the characteristics that differentiate particular offerings from competing alternatives.
By preserving these strengths while adapting products to new market requirements, companies could pursue international growth without compromising their established brand identities.
Reflecting on Reliance’s operational experience, Krishnakumar explained that efforts to make improved consumer products available to a wider population had encouraged changes across several business functions.
These included adjustments to product design, procurement practices, manufacturing processes and distribution systems.
Such improvements can help businesses manage costs, increase efficiency and provide reliable products at prices accessible to a broader range of households.
Digital transformation was also identified as an important factor in improving market accessibility.
Krishnakumar highlighted how digital payment systems, online commerce platforms and improved access to business information can help enterprises connect with consumers more efficiently.
These technologies can be particularly valuable for smaller businesses, allowing them to participate in larger markets without relying exclusively on traditional distribution channels.
For Sri Lankan enterprises, digital commerce could provide additional opportunities to establish customer relationships, develop brand visibility and explore new commercial markets.
He further identified artificial intelligence and digital technologies as emerging areas capable of supporting business development and operational improvements.
However, technology alone would not guarantee business success.
Krishnakumar stressed that organisations must also invest in the skills, training and support systems required to ensure employees can adopt and use new technologies effectively and responsibly.
Building digital capabilities across businesses of different sizes could therefore become an important element of strengthening competitiveness and encouraging broader participation in economic growth.
Turning to investment conditions, Krishnakumar explained that attracting long-term business commitments requires more than offering financial incentives.
Investors also seek predictable policies, transparent regulations and administrative processes that allow companies to plan their operations with confidence.
Clear taxation frameworks, reliable regulatory arrangements, efficient approval procedures and practical mechanisms for resolving business difficulties are important in creating a stable investment environment.
Such conditions can encourage companies to make long-term commitments to production facilities, workforce development, suppliers and the communities in which they operate.
Krishnakumar also highlighted the value of maintaining constructive dialogue between government institutions and the private sector.
Regular communication could help policymakers better understand commercial challenges while providing businesses with greater clarity about regulatory developments and investment requirements.
This cooperation could contribute to Sri Lanka’s efforts to strengthen its position as a regional centre for manufacturing and service-related activities.
Workforce development formed another important component of the broader economic vision presented during the summit.
Krishnakumar encouraged businesses to invest in employee development, establish stronger partnerships with educational institutions and support the growth of smaller enterprises.
Improving access to relevant training and professional development opportunities could help workers acquire the capabilities required by modern industries.
Collaboration between businesses and educational institutions could also contribute to reducing skills gaps and improving the employability of graduates entering an increasingly competitive labour market.
At the same time, supporting small and medium-sized enterprises could strengthen domestic supply chains and enable a wider range of businesses to benefit from regional commercial expansion.
Sri Lanka’s skilled workforce and entrepreneurial capabilities, he suggested, represent valuable resources that could contribute more effectively to economic development when supported by appropriate business opportunities.
Greater cooperation between Indian and Sri Lankan enterprises could also encourage knowledge-sharing, innovation and improvements in production standards.
By working together, businesses could develop products for multiple consumer markets while sharing expertise in manufacturing, distribution and customer engagement.
The experience of Reliance Consumer Products with its Sri Lankan partners illustrates how such relationships can create practical opportunities for local brands to reach international consumers.
For Sri Lankan businesses, collaboration with established Indian companies could provide access to larger distribution networks, stronger market intelligence and opportunities to achieve greater production scale.
Indian enterprises, meanwhile, could benefit from Sri Lanka’s established product knowledge, distinctive consumer offerings and specialised manufacturing capabilities.
Krishnakumar’s remarks highlighted the importance of developing bilateral economic relationships based on complementary strengths and shared commercial interests.
Rather than viewing growth in one country as separate from developments in the other, he suggested that expanding economic activity across either market could create additional opportunities for businesses on both sides.
Stronger partnerships between Sri Lanka and India could therefore contribute to greater trade, enhanced business competitiveness and improved access to consumer products.
The wider message of his address centred on the potential for regional cooperation to create sustainable economic value through investment, innovation, technological adoption and long-term business relationships.
As India’s consumer economy continues to develop, Sri Lankan enterprises capable of establishing effective partnerships and responding to changing market demands could find new opportunities to expand their international reach.
For both countries, deeper commercial engagement could provide a platform for businesses to strengthen their operations, develop new products and serve an increasingly diverse consumer population.
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