Jul 07, 2017

India's development partnership with Sri Lanka stands at US $ 2.6 billion

India's development partnership with Sri Lanka, currently stands at, US $ 2.6 billion, and it is ready to strengthen this development partnership further, based on Sri Lanka’s needs, said High Commissioner of India Taranjit Singh Sandhu in Colombo.

He was speaking at the 9th Annual General Meeting of the Indo-Lanka Chamber of Commerce & Industry in Colombo on Thursday 6.

He said,

India intends to make, substantial investments in Sri Lanka, in conventional, and non-conventional energy, in the days ahead. Considering that LNG, is a cheaper and cleaner fuel, we are sharing our expertise, and skillset, with Sri Lanka, to facilitate the process of gasification, of the Sri Lankan economy. There is a huge potential in Sri Lanka, for wind and solar energy, as well. India has made rapid advance in solar technology and we are ready to share it with Sri Lanka, he added.

India has also identified, hard infrastructure and connectivity projects, in Sri Lanka, including roads, railways, ports etc. for joint development.

Certain sections, who may not be very well informed, unfortunately, have been trying to portray, that Sri Lankan interests would be harmed, when some of these projects, take off. Nothing could be further, from truth, he said adding that these are, joint projects. These projects bring huge investments, and valuable foreign exchange, for Sri Lanka., he revealed. They create several thousands, of direct and indirect jobs.