By: Staff Writer Colombo (LNW):Sri Lanka is taking steps for economic revival in the backdrop of the first tranche of the bailout package from the International Monetary Fund (IMF) and this would open up opportunities for Indian corporate sector to expand IT sector. One of the measures the Lanka will pursue is restructuring of its State-owned enterprises. As part of its economic recovery and fiscal consolidation plan, the Sri Lankan government has shown interest in divestment in the airlines, hotels and hospital sectors among other sectors including IT. IT giant HCL Technologies Ltd is to offer more employment opportunities for Sri Lankans following talks held between the Governor of the Eastern Province, Senthil Thondaman and the company in India. Thondaman had talks with the Indian IT giant HCL during his recent visit to India to explore opportunities to collaborate in the IT sector. “During the visit, Governor M Senthil Thondaman met with senior executives of HCL Ltd. in New Delhi. The discussions focused on opening up a gateway to a 5000-seat facility for Sri Lankan IT talents. The Governor’s proposal received an overwhelming positive response from HCL, reinforcing their commitment to expanding their operations in Sri Lanka,” Thondaman’s office said. HCL Ltd., a renowned global IT services provider, expressed great interest in investing in Sri Lanka and tapping into its pool of talented IT professionals. The company recognizes the immense potential of the Sri Lankan workforce and the country’s strategic location in the region. “As a result of the productive discussions, HCL Ltd. is expected to sign an agreement with the Board of Investment (BOI) on the approval of the Chairman Dinesh Weerakody who has also played a supportive role in Sri Lanka to establish this state-of-the-art facility. This landmark initiative undertaken by Governor M Senthil Thondaman will generate employment opportunities for 5000 IT engineers across Sri Lanka, making it the largest investment in the IT sector in the country’s history,” Thondaman’s office added. The facility will serve as a hub for HCL’s operations in Sri Lanka, providing a conducive environment for innovation, collaboration, and skills development. It will leverage the expertise of local IT professionals and enable them to work on cutting-edge projects for both local and international clients. Thondaman expressed his enthusiasm for this transformative collaboration, stating, “This partnership with HCL Ltd. will pave the way for significant growth in the IT sector and create a multitude of employment opportunities for our talented IT professionals. We are delighted to have HCL’s support in our mission to position Sri Lanka as a leading IT hub in the region.” The initiative aligns with the Government’s vision of attracting foreign direct investment and promoting the digital transformation of Sri Lanka’s economy. It will contribute to the country’s economic growth and reinforce its reputation as an attractive destination for IT and technology-related investments.