Finance
Perhaps the first time a foreign leader has received such an honor, Prime Minister Narendra Modi was given a lavish ceremonial welcome on Saturday at the historic Independence Square in the center of the Sri Lankan capital.
President Anura Kumara Dissanayake welcomed the prime minister to the Square.
After finishing his journey to Bangkok, where he attended a BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) forum, Modi arrived in Colombo last night.
“PM @narendramodiwas welcomed by President @anuradisanayake with a ceremonial reception at the Independence Square in Colombo,” External Affairs Ministry spokesperson Randhir Jaiswal said on ‘X’.
“Bilateral discussions to foster a partnership for a shared future & mutual prosperity of our people, lie ahead,” he said.
Officials said it was the first time a foreign leader was accorded such a welcome at the Independence Square.
A defense cooperation pact and frameworks for further involvement in the energy sector are among the ten or so ambitious deliverables that the two parties are anticipated to produce.
If the Memorandum of Understanding on Defense Cooperation is signed, it will mark a significant improvement in India-Sri Lanka defense and put an end to the tense period surrounding India’s withdrawal of the Indian Peace Keeping Force (IPKF) from the island nation over 35 years ago.
The island nation is beginning to recover from the economic strain, which coincides with the prime minister’s visit. Three years ago, when the nation was experiencing a severe economic crisis, India gave USD 4.5 billion in financial aid.
Two documents enabling India’s help to Sri Lanka on debt restructuring and another on currency swap are anticipated to be made public following the discussions between Modi and Dissanayake.
A separate agreement on cooperation in the digital sphere is also anticipated to be signed by the two parties.
Later in the day, Modi is also expected to lay a wreath at the memorial of the Indian Peace Keeping Force (IPKF).
In an interview with PTI, Indian High Commissioner to Colombo Santosh Jha said on Friday that New Delhi’s assistance to the island nation was “unprecedented” in terms of India’s assistance to any country in the world.
“It was a huge bit of assistance and we are continuing to work with Sri Lanka in providing it assistance in various areas and that is much appreciated here,” Jha said.
Modi and Dissanayake will also dedicate a number of projects being constructed in Colombo with India’s help.
The Sampur solar energy project’s virtual groundbreaking will also be witnessed by the two leaders.
Source: IE
