11.6 C
Friday, October 7, 2022

Indian delegation meets President, PM; discusses economic crisis

Must read

ECONOMYNEXT – The higher level Indian delegation led by Foreign Secretary Vinay Kwatra met Sri Lankan President Gotabaya Rajapaksa and Ranil Wickremasinghe held discussion on Thursday in which importance of promoting bilateral investment in the fields of infrastructure, connectivity, renewable energy and deepening economic linkages, Indian High Commission said.

The talks come as Sri Lanka has sought more loans for its neighbour to face the ongoing economic crisis that has led to the shortage of essentials like fuel, medicines, and cooking gas amid lengthy power cuts due to lack of US dollars.

The island nation has already declared sovereign debt default on April 12.

The Indian delegation also included Shri Ajay Seth, Secretary, Department of Economic Affairs, V Anantha Nageswaran, Chief Economic Advisor and Kartik Pande, Joint Secretary, Indian Ocean Region at the Indian Ministry of External Affairs.

“Both sides had a productive exchange of views on the current economic situation in Sri Lanka as well as India’s ongoing support,” Indian High Commission said referring to the delegation’s meeting with the President.

“In the meeting with Prime Minister Ranil Wickremansinghe, the two sides had an in-depth discussion on the Sri Lankan economy and efforts undertaken by the Government of Sri Lanka towards achieving economic recovery.”

“In this context, both sides highlighted the importance of promoting India-Sri Lanka investment partnership including in the fields of infrastructure, connectivity, renewable energy and deepening economic linkages between the two countries.”

Many Sri Lankans have welcomed Indian support cautiously because of past experience with the Indian relationship.

Political analysts told Economy Next the Indian rush for help has come at a time India and the West led by the United States are concerned about strong footage of China in Sri Lanka.

China has become the top bilateral commercial lender to the island nation since the end of a 26-year war in 2009.

India has raised concerns over Chinese activities in Sri Lanka citing they could compromise the Indian Ocean’s Security.

Sri Lanka has to cancel a renewable energy project given to a Chinese company in the northern islands due to Indian pressure on the security concerns, government officials have said.

Majority of Sri Lankans are still vary of Indian assistance because of its role in creating, backing and training Liberation Tigers of Tamil Eelam (LTTE), a rebel group who fought for a separate state in Sri Lanka’s North and East.

However, later, Indian along many other international partners helped Sri Lanka to wipe out the LTTE, which killed Indian Prime Minister Rajiv Gandhi in 1991. (Colombo/June 23/2022)

- Advertisement -spot_img

More articles

0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments
- Advertisement -spot_img

Latest article

Would love your thoughts, please comment.x