The share of Sri Lanka’s total exports to the South Asia Sub regional Economic Cooperation (SASEC) countries increased from 6% to 8% within a period of 13 years (2002–2015), which is remarkably lower than its exports to the rest of the world. Of all SASEC countries, India is the most important export market for Sri Lanka. India’s average exports to Sri Lanka during this period were five times higher than Sri Lanka’s average exports to India.