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India staff in Lanka: Ready to assist restoration through investments

Srilanka Delegation

A FOUR-MEMBER delegation led by Foreign Secretary Vinay Kwatra, together with prime Finance Ministry officers, assured the Sri Lankan management on Thursday that New Delhi is able to assist Colombo’s fast financial restoration by selling investments, connectivity and strengthening financial linkages.

The delegation — which included Ajay Seth, Secretary, Department of Economic Affairs, Ministry of Finance; Dr V Anantha Nageswaran, Chief Economic Advisor; and Kartik Pande, Joint Secretary of the Indian Ocean Region, Ministry of External Affairs (MEA) — met President Gotabaya Rajapaksa and Prime Minister Ranil Wickremesinghe in Colombo.

India’s current financial support stands at $3.5 billion. New Delhi additionally supported Colombo in the course of the conferences on the International Monetary Fund (IMF) in March this 12 months, and in different boards together with regional and plurilateral organisations.

MEA spokesperson Arindam Bagchi mentioned Kwatra, accompanied by Seth and Nageswaran, held “productive discussions” with President Rajapaksa “on the current situation in Sri Lanka and India’s ongoing support”.

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During the assembly, the delegation underlined that India stands prepared to assist Sri Lanka in fast financial restoration by selling investments, connectivity and strengthening financial linkage, he mentioned. “(They) reiterated Sri Lanka’s centrality to India’s Neighbourhood First policy. Both sides reaffirmed commitment to development of India-Lanka ties,” Bagchi mentioned.

The Indian High Commission in Colombo mentioned the talks had been held in a “frank, cordial and constructive manner”. In an announcement, it mentioned the Indian delegation underscored that the current financial, monetary and humanitarian help of over US$ 3.5 billion to Sri Lanka was “guided by the ‘Neighbourhood First’ policy and Security and Growth for All in the Region (SAGAR) vision of Prime Minister Narendra Modi”.

“During the call on President Gotabaya Rajapaksa, the Indian side thanked the President of Sri Lanka for his commitment to the development of India-Sri Lanka bilateral relations. Both sides had a productive exchange of views on the current economic situation in Sri Lanka as well as India’s ongoing support,” the assertion mentioned.

At the assembly with Wickremesinghe, the 2 sides had an in-depth dialogue on the Sri Lankan economic system and efforts undertaken in direction of attaining financial restoration, it mentioned. “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,” the assertion mentioned.
Kwatra additionally had a separate assembly together with his Sri Lankan counterpart, Aruni Wijewardena, the place they agreed to work in shut coordination in direction of strengthening diplomatic engagement and enterprise a bilateral go to at an early date.

“The Sri Lankan side appreciated the consistent support of the government and people of India over the past few years in a variety of fields such as counter-terrorism, maritime security, disaster management, humanitarian assistance, development cooperation, commercial engagement and people-to-people ties,” the assertion mentioned.

It mentioned improvement help prolonged by India stands at over $5 billion.


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