Binod Chaudhary sees positivity for Sri Lanka with Modi government

Reiterates his optimism of Sri Lanka and investment potential

05th June 2019 Colombo Sri Lanka: Nepali billionaire and business tycoon, Chairman of CG Corp Global Dr Binod Chaudhary whose business interests in Sri Lanka span a segment of pioneering leisure offerings, believes strongly that India’s Prime Minister Narendra Modi, in his second term, will be able to usher in new developments not just for India but for the entire region. Chaudhary who was invited to PM Modi’s swearing in ceremony held on May 30th at Rashtrapati Bhavan New Delhi, has always posited positive sentiments for the region, investing in eras of abject uncertainty as he did when he invested in Sri Lanka with the Taj Samudra during the war.  With Modi’s significantly larger mandate instilling immense confidence on his ability to accomplish not just his goals for India but for this South Asian region, Chaudhary believes Sri Lanka will benefit even more from this renewed leadership in India.

Looking back on the aftermath for the economy post the Easter attacks of April 2019, Chaudhary, who has always displayed immense love for Sri Lanka and continues to retain an infallible confidence in the country, recalls investing in Sri Lanka at a time when Colombo was akin to a war zone.  “Business was at an all time ebb as was the economy.  But I’ve always had a positive feeling about Sri Lanka and the friends I have from this country have nurtured that feeling in me.  I know that the potential Sri Lanka has is just immense.”  He opines, that he wasn’t wrong with his debut investment into the hospitality sector for CG Hospitality with the Taj Samudra back in 1998 and subsequent investments over the next twenty years, “and I’m not wrong about the next wave of growth the country will see in the months and years to come.”

Chaudhary who heads more than 130 companies in diverse sectors, including financial services, energy, education, hospitality and real estate spanning 30 countries and four continents adds that he has always been excited about taking calculated risk.  “I was very optimistic when I brought CG Corp into Sri Lanka and I’ve been able to work with some very visionary partners from then on,” he says citing Jetwing, Ceylon Hotels Corporations and Hatton Plantations.  CG Hospitality Lanka headed by Tilak de Zoysa now has five more properties under its portfolio of Ekho Zinc Journey, in addition to the partnership Chaudhary mooted with Jetwing Hotels. The Group currently holds a formidable portfolio of 125 hotels in 12 countries through 90 destinations and 6500 keys, pioneering cutting edge concepts across hotels, resorts, residences and spas in Asia, the Middle East and Africa.

About the CG Group

CG Corp Global is a transnational conglomerate with an exceptional legacy of 140 years. Present in over 30 countries with 76 brands, 130 companies and with an employee base of 10,000 people, it is Nepal’s first and only billion dollar corporation that produces world-class products, brands and services. The Group’s notable areas of interests are Fast-Moving Consumer Goods, hospitality, banking, cement, integrated industrial parks, real estate, consumer electronics, telecom, education, energy, biotech, remittance and retail. Apart from business, CG is deeply involved in philanthropic activities through Chaudhary Foundation.

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