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Request for Proposals (RFP) – Ministry of Urban Development, Construction and Housing

I wish to inform you that, the Chairman of the Cabinet Appointed Negotiating Committee (CANC) has invited eligible private sector parties, institutions/organizations to submit innovative concepts for Operations and Maintenance of the Facility with Maximum Resource Recovery.

Closing date for the above is on or before 17th March 2025 at 02.00 pm. (Sri Lanka local time GMT+5:30).

Please find attached herewith a copy of the notice of the above RFP.

It would be appreciated, if you could kindly make necessary arrangements to disseminate the same among your membership.

Thank you.

With warm regards,

Shirani Ariyarathne

Actg. Consul General

Minister (Commercial)

Consulate General of Sri Lanka

34, Homi Mody Street, Fort

Mumbai 400001

Tel: (+ 91 22 )22045861/22048303

Fax: (+ 91 22) 22876132

E -mail: slcg.mumbai@mfa.gov.lk

Registration of Suppliers for Aircraft maintenance, Repair, Overhaul and related support services – Sri Lanka Air Force

I wish to inform you that, the Sri Lanka Air Force (SLAF) has invited qualified suppliers to register for Aircraft maintenance, Repair, Overhaul and related support services.

Closing date for the above is on or before 28th March 2025 at 1600 hrs. (Sri Lanka local time GMT+5:30).

Please find attached herewith a copy of the newspaper advertisement of the above.

It would be appreciated, if you could kindly make necessary arrangements to disseminate the same among your membership.

Thank you.

With warm regards,

Shirani Ariyarathne

Actg. Consul General, Minister (Commercial)

Consulate General of Sri Lanka, 34, Homi Mody Street, Fort

Mumbai 400001.

Tel: (+ 91 22 )22045861/22048303, Fax: (+ 91 22) 22876132

E -mail: slcg.mumbai@mfa.gov.lk

Invitation for Bids (IFB) – Ministry of Defence

I wish to inform you that, the Chairman, Standing High Level Procurement Committee (SHLPC), Ministry of has invited sealed bids from eligible and qualified bidders for the Capital Overhaul of MI-171E Helicopters and Purchase of Spares for the Recovery of Bell 212 Helicopter of the Sri Lanka Air Force.

Please find attached herewith a copy of the procurement notice of the above.

It would be appreciated, if you could kindly make necessary arrangements to disseminate the same among your membership.

Thank you.

With warm regards,

Shirani Ariyarathne

Actg. Consul General, Minister (Commercial)

Consulate General of Sri Lanka

34, Homi Mody Street, Fort, Mumbai 400001

Tel: (+ 91 22 )22045861/22048303, Fax: (+ 91 22) 22876132

E -mail: slcg.mumbai@mfa.gov.lk

Union Minister of Commerce & Industry Shri Piyush Goyal emphasises mutual funds industry’s role in India’s growth at AMFI Summit 2025

The mutual funds industry has played a pivotal role in India’s growth story by encouraging financial literacy and taking innovative financial ideas to the industry and the investors. This was stated by Union Minister of Commerce & Industry Shri Piyush Goyal during his address as a Chief Guest at the Association of Mutual Funds in India (AMFI) Mutual Fund Summit 2025 today in Mumbai.

The Minister further complimented the domestic investors for filling the gap created by the foreign institutional investors (FIIs) post-Covid. “Collective investment methods like SIPs along with domestic investors supported the market. They helped in spreading financial awareness and financial products to every part of the country, he said.

Highlighting the importance of safeguarding the importance of small investors and other key stakeholders, Shri Goyal urged the industry leaders to reflect on ways to minimise volatility in the stock market. Large fund inflows, compulsions of the market to deploy capital, fear among investors on missing out on attractive stocks brought crises among investors during rightsizing. There has been a lot of misinformation flow about the unending ability of the market to go on a one-way street, he noted, and described the unpredictability of the stock market as a wakeup call for the industry and its small investors.

AMFI should also become conscious of its duties by isolating misguided investors from the rest. Companies with mettle have maintained reasonable prices at the stock market during recent turbulence, he noted. He said that duties and responsibilities of the industry towards the market are larger than the profitable returns investors enjoy in the short term. He also added that government spending and private capex are showing signs of comeback.

Elaborating on the responsibilities of the mutual funds industry towards its investors, the Minister urged the participants to be more diligent in cautioning investors from taking risks. He hoped that initiatives as such will spur India’s growth story for the next 22 years. Shri Goyal urged the industry to support and handhold investors, look at financial inclusion as a collective responsibility and take up financial education as its duty.

Shri Goyal asserted that assets under management (AUM) in the mutual funds industry at nearly Rs 70 lakh crore and soon to be Rs 100 lakh crore will dominate the market and domestic investors will determine India’s future not the foreign institutional investors. He also highlighted the need for the industry as wealth creators to have a fair and organised market.

India’s competitive advantage in aluminium production offers a silver lining amid US tariff hike

Bombay Chamber, Mumbai: Effective March 12, 2025, the US intends to eliminate the system of exemptions and quotas on steel and aluminium imports worldwide, reinstating a full 25% tariff on steel, and increasing tariffs on aluminium imports to 25% from 10%. India being a major exporter of aluminium, the US tariff hike is more likely to impact export volumes and realisations for Indian aluminium producers than domestic steel manufacturers.

As per industry estimates, India exported around 40% of its domestic aluminium production in the calendar year 2024 (CY24). The country’s direct aluminium exports to the US are around 6-8% and the sector could see a higher impact from the tariff hike.

“While the impact of tariff hike on aluminium manufacturers is anticipated to surpass steel, India stands to gain from being one of the lowest-cost aluminium producers, owing to the availability of high-quality bauxite reserves,” said Hitesh Avachat, associate director, CareEdge Ratings.

India’s lowest-cost (of aluminium production globally) advantage is mainly on account of the availability of quality bauxite reserves. This improves India’s cost competitiveness in the global market. Industry experts feel this can provide greater cushion to domestic aluminium producers to meet the increased competition from any over-supply scenario arising from the imposition of tariff by the US.

Aluminium production through the primary route remains lower in the US than in the secondary route (scrap route). Thus, the US aluminium industry remains significantly dependent on imports, with around 75% of the US aluminium’s apparent supply (primary + secondary production + imports–exports + adjustments for stock changes; excludes imported scrap) being primarily met through imports. Canada remains the largest exporter of aluminium to the US, followed by UAE and China.

While China remains the largest producer of primary aluminium, holding approximately 60% of the global production share, India ranks as the second largest producer, contributing around 6%. Unlike steel, India is a net exporter of aluminium. The US accounts for about 6-8% of India’s total aluminium exports, representing a larger share of aluminium exports than steel exports.

Commenting on the on impact of US tariff on the Indian aluminium sector, Sehul Bhatt, director – research, Crisil Intelligence, said, the US move to impose a flat 25% tariff on aluminium imports from March 12, 2025, compared with a raft of lower levies now, will have a negative impact on Indian manufacturers of the metal.

“Nearly half of India’s primary production is currently exported, of which around 6% goes to the US. With users of primary aluminium in that country expected to reduce imports after the 25% tariff kicks in, end users there would prefer locally sourced secondary aluminium, or scrap. This, too, will have a bearing on India because around 26% of the aluminium scrap we import comes from the US. Consequently, we foresee some impact on secondary aluminium and alloys producers as well.”

(Write to us at editorial@bombaychamber.com)

 Procurement Notice–State Pharmaceuticals Corporation of Sri Lanka Bid No. – DHS/C/SS/WW/02/25

I wish to inform you that, the Chairman, Standing Cabinet Appointed Procurement Committee of the Ministry of Health, Sri Lanka has invited sealed bids for supply of following items to the Ministry of Health.