#145: India-Sri Lanka Relations
Imp way forward in India-SL relations
As the President Wickremesinghe visit New Delhi, a quick look at 5 point approach for the way forward
1. Consolidate fragmented aid program
India’s aid program routed via multiple ministries
Shall come up with a single development bank
(on lines of Japan Bank for International Cooperation)
Can be called South Asian Development Bank
Shall cater to Indian aids for SL, Nepal, Bhutan, Bangladesh, Afghanistan etc
2. Foster supply chains in South Asia
With manufacturing and services scaling, good potential on this
Tata, Adani, already has significant investments in SL
More in renewables, infra and tourism on the way
Offers competition to China with export processing zones, industrial clusters
Support this with well oiled supply chain via FTAs & FDI
3. Digitalization
Already an agenda on G20 agenda: Digital Public Infrastructure
UPI, Open source fintech shall be extended to SL for further integration
4. Central Banks
Frequent meetings & early warning system to prevent financial calamities
Offers regional stability with mechanism further taken to other south Asian countries
5. Security
China has investments worth 18% of SL’s GDP in SL and 10.8% of foreign debt
Mindfulness in this regard about how Indian Ocean is India-SL’s strategic backyard
Note: This post is under construction, will keep updating it to make it one stop destination for you on this topic.
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