Sri Lankan President Anura Kumara Dissanayake has committed himself to strengthening ties with India during his very first excursion as state head. He received a red carpet-welcome from Prime Minister Narendra Modi. Traditionally, Sri Lankan leaders make their first trip to India which otherwise threatens to outshine it with China for influence in the Indian Ocean.
In his speech at the swearing-in ceremony last September, Dissanayake, who came to power with promises to fight corruption in Sri Lanka, indicated his commitment to India as a significant part of Sri Lanka’s foreign policy. The president stated that the Indian PM assured him of full support. Modi was pleased that Dissanayake opted to have his first trip abroad to India, noting that it would bring new vigor and speed to relations.
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Sri Lanka exports a total of $4.1 billion to India compared to $1.4 billion of imports. India is one of the prime trading partners of India. India is also pushing for the completion of infrastructure projects while China maintains its status as the largest bilateral lender to Colombo. The first visit of Dissanayake is expected to be to China in early 2025.
Sri Lanka ran out of foreign reserves to pay for essential imports, defaulting on a $46 billion foreign debt. This was its worst economic crisis in 2022. Dissanayake openly recognized that India gave enormous support to the nation at this time.
In his discussions, Dissanayake also held fruitful talks with the foreign and finance ministers of India as well as national security adviser Ajit Doval. Key areas in which the discussions revolved include enhancing prior economic cooperation, greater investment opportunities, and securing the region as a whole.