India team in Lanka: Ready to aid recovery via investments

India’s recent economic aid stands at $3.5 billion. New Delhi also supported Colombo during the meetings at the International Monetary Fund (IMF) in March this year, and in other forums including regional and plurilateral organisations.

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

During the meeting, the delegation underlined that India stands ready to help Sri Lanka in quick economic recovery by promoting investments, connectivity and strengthening economic linkage, he said. “(They) reiterated Sri Lanka’s centrality to India’s Neighbourhood First policy. Both sides reaffirmed commitment to development of India-Lanka ties,” Bagchi said.

I had a productive discussion with Indian Foreign Secretary Vinay Kwatra, Indian Secretary to the Department of Economic Affairs Ajay Seth and Chief Economic Advisor to the Government of India Dr. V. Anantha Nageswaran. I look forward to stronger bilateral ties with India. pic.twitter.com/1Hnv5msA3q

— Ranil Wickremesinghe (@RW_UNP) June 23, 2022

The Indian High Commission in Colombo said the talks were held in a “frank, cordial and constructive manner”. In a statement, it said the Indian delegation underscored that the recent economic, financial and humanitarian assistance 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 statement said.

At the meeting with Wickremesinghe, the two sides had an in-depth discussion on the Sri Lankan economy and efforts undertaken towards achieving economic recovery, it said. “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 statement said.

Kwatra also had a separate meeting with his Sri Lankan counterpart, Aruni Wijewardena, where they agreed to work in close coordination towards strengthening diplomatic engagement and undertaking a bilateral visit 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 statement said.

It said development assistance extended by India stands at over $5 billion.