Sri Lanka Looks to India for Economic Revival

Sri Lanka’s High Commissioner to India, Milinda Moragoda, emphasized the expanding trade between the two nations using the Indian Rupee as a crucial part of Sri Lanka’s economic recovery strategy with India. The High Commissioner praised India’s swift response during Sri Lanka’s crisis, which resulted in India providing financial aid of US$ 3.9 billion. He also mentioned the possibility of using the RuPay mechanism for Indian tourists visiting Sri Lanka, making it easier for them to make transactions during their stay.

Moragoda highlighted the historical ties between the two nations, which date back 1,000 years and spoke of the significance of dialogue between the two nations on the issue of fishermen, where there have been periodic instances of Indian fishermen being apprehended by Sri Lankan authorities. He also mentioned the formal invitation from PM Modi to Sri Lankan President Wickremesinghe to visit India.

The High Commissioner emphasized the security concerns between the two nations, stating that both India and Sri Lanka must look after each other’s security as they have a shared responsibility to protect each other. He also mentioned the importance of the Jaffna Cultural Centre opening, which he deemed a “symbolic” act by India.

Milinda Moragoda has repeatedly stressed the role India can play in Sri Lanka’s economic revival, through enhanced investment, tourism, and trade between the two nations. With the current economic crisis in Sri Lanka, Moragoda believes that India can play a significant role in helping Sri Lanka recover through multifaceted economic integration.

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