Indo-Sri Lankan Talks Pave Way for Enhanced Economic Partnership and Connectivity

Adoption of Visionary Document for Economic Partnership

In a significant move towards strengthening bilateral ties, Prime Minister Narendra Modi of India and President Ranil Wickremesinghe of Sri Lanka held wide-ranging discussions leading to the adoption of an ambitious vision document. This initiative aims to considerably boost the economic partnership between the two nations.

India's Unwavering Support in Times of Crisis

In the wake of economic difficulties faced by Sri Lanka last year, Modi assured the Sri Lankan populace of India's unwavering support. Reiterating India's commitment as a close ally, he stated that India has stood "shoulder-to-shoulder" with Sri Lanka during this trying period.

Fintech Connectivity through UPI Payment System

The Prime Minister underscored that the initiation of the UPI payment system in Sri Lanka would usher in fintech connectivity, fostering a closer economic relationship between the two countries.

Interlinking Security Interests and Development

Modi emphasized that the security interests and development of both nations are inextricably linked. He advocated for mutual collaboration that respects each country's security interests and sensitivities.

Expanding Cooperation Across Multiple Sectors

A Vision for Economic Partnership

The newly adopted vision document focuses on escalating cooperation in fields such as tourism, power, trade, higher education, skill development, and connectivity.

Enhancing Connectivity

The Prime Minister highlighted the vision's goal to fortify maritime, air, energy, and people-to-people connectivity between India and Sri Lanka.

Forthcoming Economic and Technological Agreement

He revealed that discussions on an agreement focusing on economic and technological cooperation would commence shortly.

Addressing Key Issues and Expectations

Aspirations of the Tamil Community

Modi expressed hope that the Sri Lankan government would address and fulfill the aspirations of the Tamil community.

Feasibility Study on Petroleum Pipeline

The Prime Minister announced plans for conducting a feasibility study on a potential India-Sri Lanka petroleum pipeline.

Resolving the Fishermen Issue

On the issue of fishermen, Modi urged for a humanitarian approach, emphasizing the need for sensitivity and cooperation in addressing this concern.

In response, the Sri Lankan President affirmed, "We believe that India's growth would be beneficial to the neighbourhood and the Indian Ocean Region," reinforcing the mutual commitment to shared progress and regional cooperation.