Mukherjee said this during a meeting with his Lankan counterpart Maithripala Sirisena who called on him yesterday.
According to a Rashtrapati Bhawan spokesman, the President said Indian private sector companies were keen to be partners in Sri Lanka's infrastructure projects.
Welcoming the Sri Lankan President to India, the President said India believes its growth is linked to the prosperity of its neighbourhood.
"India would like to see Sri Lanka utilise the economic growth in India to catalyze its own economic development. This is also India's message to other partners in BIMSTEC," he said.
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Besides India, other members of the group are Bangladesh, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal.
The spokesman said the Sri Lankan President warmly reciprocated the sentiments and said he was happy that India -Sri Lanka relations have strengthened and a number of high level contacts taken place.
He expressed appreciation for the assistance provided by India in various sectors and said his national unity government was convinced of the need to enhance economic and political ties.