Page 26 - Sri Lanka

India, Sri Lanka adopt vision document to expand economic partnership

India and Sri Lanka on Friday adopted an ambitious vision document to significantly expand economic partnership after wide-ranging talks between Prime Minister Narendra Modi and Sri Lankan President Ranil Wickremesinghe. In his media statement, Modi, referring to the economic difficulties in Sri Lanka last year, said India stood "shoulder-to-shoulder" with the people of the island nation during the crisis as a close friend. The prime minister said firming up of an agreement for launch of the UPI payment system in Sri Lanka will result in fintech connectivity between the two sides. The past one year has been full of challenges for the people of Sri Lanka, he said, adding that being a close friend, as always, India stands shoulder-to-shoulder with the people of Sri Lanka. In his comments, Modi said the security interests and development of India and Sri Lanka are intertwined and it is necessary to work together keeping in mind each other's security interests and sensitivities. Modi

Gautam Adani meets Sri Lankan President, proposes green hydrogen project

Billionaire Gautam Adani on Friday proposed to set up a green hydrogen plant in Sri Lanka, where his conglomerate is already developing a container terminal and a 500 MW wind project. Adani met visiting Sri Lankan President Ranil Wickremesinghe to discuss ongoing projects and the new venture. "Great Honour to have met H.E. President Ranil Wickremesinghe to discuss a fascinating set of projects in Sri Lanka including continued development of Colombo Port West Container Terminal, 500 MW wind project, and extending our renewal energy expertise to produce green Hydrogen," he tweeted. The Adani Ports and Special Economic Zone (APSEZ) is developing a USD 700 million container terminal at Colombo Port, which is a major transshipment hub in South Asia. The Adani group is also developing the Vizhinjam seaport project in Kerala, just 176 nautical miles from the Colombo port. The conglomerate's renewable energy firm, Adani Green Energy, is setting up two wind projects of 286 MW in Mannar and

PM Modi holds talks with Lankan president to boost economic cooperation

Wickremesinghe arrived in Delhi on a two-day visit which is the first tour of India by a senior Sri Lankan leader since the island nation was hit by an unprecedented economic crisis last year

EAM Jaishankar meets Sri Lanka president during leader's 2-day India visit

Ministry of External Affairs official spokesperson Arindam Bagchi noted that Wickremesinghe's visit will further boost the multi-prolonged partnership between India and Sri Lanka

Expecting Sri Lankan prez's visit to impart momentum to bilateral ties: MEA

Sri Lankan President Ranil Wickremesinghe on Thursday kicked off a two-day visit to India that is expected to impart a new momentum in bilateral ties, especially in the economic and trade sphere. Prime Minister Narendra Modi and Wickremesinghe will hold wide-ranging talks on Friday covering all key aspects of relations between the two countries. It is the first visit to India by a Sri Lankan leader since the island nation reeled under a severe economic crises last year. "We Look forward to the visit to impart a new momentum to the relationship," External Affairs Ministry Spokesperson Arindam Bagchi said at his weekly media briefing. India extended financial assistance worth around USD 4 billion to Sri Lanka including lines of credit for purchases of food and fuel last year when it was hit by the economic crisis. New Delhi also provided guarantees to the International Monetary Fund (IMF) to help the country secure a USD 2.9 billion bailout package. In the evening, External Affairs

Expecting Lankan President's visit to impart new momentum to ties: MEA

Sri Lankan President Ranil Wickremesinghe on Thursday kicked off a two-day visit to India that is expected to impart a new momentum in bilateral ties, especially in the economic and trade sphere. Prime Minister Narendra Modi and Wickremesinghe will hold wide-ranging talks on Friday covering all key aspects of relations between the two countries. "We Look forward to the visit to impart a new momentum to the relationship," External Affairs Ministry Spokesperson Arindam Bagchi said at his weekly media briefing. India extended financial assistance worth around USD 4 billion to Sri Lanka including lines of credit for purchases of food and fuel last year when it was reeling under a severe economic crisis. New Delhi also provided guarantees to the International Monetary Fund (IMF) to help the country secure a USD 2.9 billion bailout package. "This is a very important visit. It (Sri Lanka) is a neighbouring country with whom we have very important and multi-faceted relations. I do not wan

Sri Lankan President Wickremesinghe to visit India to further cement ties

Sri Lankan President Ranil Wickremesinghe will embark on a two-day official visit to India on Thursday for talks with the country's top leadership, including Prime Minister Narendra Modi, to further advance and consolidate the bilateral relations. This will be Wickremesinghe's first visit to India after being appointed President of the cash-strapped country last year following the ouster of Gotabaya Rajapaksa in a people's uprising in July. President Wickremesinghe is undertaking the official visit to India at the invitation of Prime Minister Narendra Modi, Sri Lanka's foreign ministry said in a statement this week. The visit takes place as both countries celebrate the 75th anniversary of the establishment of diplomatic relations this year. During the visit, President Wickremesinghe would meet his counterpart Droupadi Murmu and hold bilateral discussions with Prime Minister Modi, External Affairs Minister S Jaishanakar and other Indian dignitaries on a range of issues of mutual ...

Sri Lanka parliament passes anti-corruption bill without vote: Speaker

The legislation was passed without a vote in the 225-member parliament

Sri Lankan President Ranil Wickremesinghe to visit India this week

The visit will reinforce the longstanding friendship between the two countries and explore avenues for enhanced connectivity and mutually beneficial cooperation across sectors

India, Lanka committee holds meet; discusses strengthening connectivity

Joint Committee also identified a number of areas for mutual cooperation for the operationalization of ferry services in near future and desired to take further steps based on mutual understanding

Not averse to using Indian rupee as common currency: Lanka President

Sri Lanka would want to see the Indian rupee used as much as the US dollar, President Ranil Wickremesinghe has said, days ahead of his first official visit to New Delhi. Wickremesinghe, also the cash-strapped country's finance minister, made this remark while addressing the Indian CEO Forum here this week. Just as East Asia, including countries like Japan, Korea and China, witnessed significant growth 75 years ago, it is now India's turn, along with the Indian Ocean region," Wickremesinghe said. Wickremesinghe is expected to visit New Delhi next week, his first since becoming president a year ago amidst unprecedented economic and political turmoil in the island nation. Wickremesinghe's comments were in response to the chair of the Forum, T S Prakash, who in his address had called for the enhanced use of the Indian rupee in the Sri Lankan economy. It makes no difference to us if India (the Indian rupee) becomes a common currency. We will have to figure out how to go about it. We mu

Foreign Secy arrives in Colombo ahead of Sri Lankan Prez's India visit

Foreign Secretary Vinay Mohan Kwatra has arrived here on a two-day official visit to Sri Lanka to take stock of several Indian projects and make arrangements for Sri Lankan President Ranil Wickremesinghe's upcoming trip to India. Kwatra landed at Bandaranaike International Airport here on Monday night. Officials said Kwatra would assess several Indian projects in multiple sectors which are in the pipeline and prepare the ground for Wickremesinghe's visit to India. Wickremesinghe will embark on a two-day visit to India on July 21 during which he is expected to meet Prime Minister Narendra Modi, officials here said on Sunday. They said Wickremesinghe will finalise the implementation of several Indian projects related to power and energy, agriculture, and maritime issues in the island nation ahead of his departure for New Delhi. This will be Wickremesinghe's first visit to India after being appointed President of the cash-strapped country last year following the ouster of Gotabaya ...

Sri Lanka default: A bad bank would help the nation fix its finances

Before injecting fresh funds, the govt needs to take non-performing debt related to tourism, real estate and other troubled industries off banks' books

LIVE: Net direct tax collection grows 16% to Rs 4.75 trn, says I-T dept

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Daily flights from Chennai to Sri Lanka's Jaffna from July 16: Scindia

Union Minister of Civil Aviation Jyotiraditya Scindia has announced that the frequency of flights between Chennai and Sri Lanka's Jaffna will be increased from four times a week to daily services from July 16.The daily flights from Chennai to Jaffna will also amplify trade and commerce between India and Sri Lanka, Scindia noted.The Union Civil Aviation Minister made these remarks in a pre-recorded message on day-2 of the 67th Annual Convention of Travel Agents Association of India (TAAI), being hosted in Colombo.In his address, he underscored the strong cultural and trade relations between India and Sri Lanka."Delighted to virtually share my thoughts on the state of the Indian #aviation sector and its emergence as the key pillar of national progress at the 67th Annual Convention of @TAAI1951, Sri Lanka. Also highlighted the strong cultural and trade ties between India & Sri Lanka that have been marked by cooperation in the field of commerce, infrastructure development and ...

Sri Lankan President Ranil Wickremesinghe to visit India on July 21

Sri Lankan President Ranil Wickremesinghe will embark on a two-day visit to India on July 21 during which he is expected to meet Prime Minister Narendra Modi, officials here said on Sunday. This will be Wickremesinghe's first visit to India since being appointed President of the cash-strapped country last year following the ouster of Gotabhaya Rajapaksa in a people's uprising in July. Wickremesinghe was appointed President for the balance term of Rajapaksa till September 2024. India's Foreign Secretary Vinay Mohan Kwatra will arrive in Sri Lanka early next week to work out the arrangements for Wickremesinghe's visit to New Delhi, the Daily Mirror newspaper reported on Saturday. According to officials, Wickremesinghe is expected to meet Prime Minister Modi during his two-day visit to India. Officials said Wickremesinghe will finalise the implementation of several Indian projects related to power and energy, agriculture, and maritime issues in the island nation ahead of his departure

15 Indian fishermen arrested for poaching in Lanka's territorial waters

The Sri Lankan Navy has arrested 15 Indian fishermen on board two trawlers for allegedly poaching in the country's territorial waters, according to an official statement on Sunday. The Sri Lanka Navy and coast guard conducted a special operation to chase away Indian trawlers engaged in illegal fishing in Sri Lanka on the night of July 8," the Sri Lanka Navy said in a statement. The operation off the Delft Island in Jaffna led to the arrest of 15 Indian nationals, it said. The seized trawlers along with the arrested fishermen were brought to the Kankesanthurai Harbour and handed over to the Mailadi Fisheries Inspector for onward legal proceedings, it said. Last month, the Sri Lankan Navy arrested 22 Indian fishermen belonging to the state of Tamil Nadu for illegal poaching. So far in 2023, Sri Lanka Navy has seized 12 Indian poaching trawlers and arrested 74 Indian fishermen in island waters this year and handed them over to authorities for legal action, the statement added. The .

Indian travel association to help in boosting tourist flow to Sri Lanka

A leading travel-related association of India has resolved to help Sri Lanka in reviving its tourism sector by promoting the flow of tourists to the island nation that is making comprehensive efforts to recover from the devastating economic crisis last year. The three-day Indian Travel Congress, which was held in Colombo as part of the 67th convention of the Travel Agents Association of India (TAAI), concluded on Saturday with a dazzling display of fireworks, gala dinner and music and dance performances with many famous Bollywood numbers sang in Sinhala language by performers. "We are both alike, India and Sri Lanka, our food, language, culture and dresses, and tourism builds bridges between two communities and two countries, and we at TAAI support Sri Lanka in its efforts to revive tourism, above and beyond this convention," Jyoti Mayal, the President of the 72-year-old TAAI, said in her address. After her address on Saturday night, she asked TAAI delegates to take a pledge that ea

India will continue to support Sri Lanka in overcoming its financial crisis

India has reiterated its willingness to play "a constructive role" in supporting Sri Lanka's efforts for recovery from the worst economic crisis. Addressing the inauguration ceremony of the Construction, Power and Energy Expo 2023 in Colombo on Friday, India's Deputy High Commissioner Vinod K Jacob said that recent developments in India-Sri Lanka ties have strengthened the friendship and all-around cooperation between the two countries. We were the first creditor nation in January this year to convey the financing assurances needed to kick start the IMF process. India will continue to play a constructive role as a Co-Chair of the Creditors Committee along with Japan and the Paris Club, he said. India in January this year became the first country to hand over its letter of support for financing and debt restructuring of Sri Lanka to the International Monetary Fund (IMF). In May this year, 17 countries that have extended loans to Sri Lanka formed an official creditor committee' ...

Sri Lanka's speaker thanks India for help during financial crisis

Expressing his gratitude to "trustworthy friend" India for saving Sri Lanka and preventing a "bloodbath" during its unprecedented economic crisis last year, Parliament Speaker Mahinda Yapa Abeywardena has said that not a single nation has extended that kind of assistance to Colombo as done by New Delhi. Sri Lanka was hit by a catastrophic financial crisis in 2022, the worst since its independence from Britain in 1948, due to a severe paucity of foreign exchange reserves. As the country struggled, locked in the throes of the crisis, India extended multi-pronged assistance of about USD 4 billion to it last year, through multiple credit lines and currency support, in line with India's Neighbourhood First' policy. In his address at the gala dinner reception hosted for delegates of the Indian Travel Congress here on Friday, Abeywardena said India "saved us" during the financial crisis, otherwise, there would have been "another bloodbath for all of us". At the evening reception, he thank