"We understand that times have changed and the country must move forward internationally. But any trade agreement must result in the transfer of investment capital and technology," Vijitha Herath, JVP's spokesman told a political gathering at Kurunegala in the north western province.
"We are opposed to the ETCA but it does not mean we are anti-Indian," he said.
The JVP along with several professional groups have expressed opposition to the Economic and Technical Cooperation Agreement (ETCA).
The Sri Lankan government had vowed to go ahead with the ETCA despite opposition.
The JVP during 1987-90 led a bloody rebellion against the Indian intervention in Sri Lanka's Tamil separatist conflict through the Indo-Lanka Peace Accord.