The Government of India and the Government of Ceylon, referred to as "contracting Parties". Both countries are being desirous of maintaining on an enduring basis and of further developing the trade between the two countries, have resolved to conclude a Trade Agreement.
Each Contracting Parties work, with the framework of its laws and regulations, afford all facilities for the importation of goods produced in the country of the other Contacting Party.The two contracting parties, concerned with the needs and requirements of their respective countries in the context of their developing economies, undertake, on the basis of mutual advantage, to maintain the traditional pattern of trade hitherto existing, and to explore all possibilities of expanding trade.
In this agreement one party gives the framework for it's laws and regulations. Bot contracting parties use their best endeavours to promote the development of shipping of both countries. Each party gives the full consideration by the other party facilitating the export and import of specific commodities. This agreement remains in force until it is modified or terminated by either Contracting party on giving three months notice to the other party. It shall remains in force until it is modified by either contracting parties.
This Agreement was done at New Delhi on Saturday, 28th of October, 1961. This agreement has two original copies in English, both of which are authentic.