India will invest up to $2 billion in Sri Lanka over the next four years in a variety of sectors including real estate, energy and infrastructure, visiting Indian Commerce Minister Nirmala Sitharaman said. “In the next two to four years, the total investment interests will rise to $2 billion,” Sitharaman told reporters here at the end of her three-day visit to the island nation.

India is Sri Lanka’s largest trading partner and both countries are considering a broader bilateral trade agreement. After meeting  with Sri Lankan Minister of international Trade Malik Samarawickrema and other officials, Sitharaman said that Sri Lanka’s decision to scrap a joint venture coal power plant project will not deter India’s future investment plans in the country.

The proposed Economic and Technological Cooperation Agreement (ETCA) and issues concerning the existing free trade agreement (FTA) between India and Sri Lanka were discussed in these talks.