AMN / WEB DESK
Finance Minister Nirmala Sitharaman on Thursday reaffirmed India’s steadfast support for the Indian Origin Tamil community, emphasizing their remarkable resilience at the Naam 200 commemoration in Colombo.
The foundation stone laying ceremony for 10,000 houses under the Indian Housing Project’s phase 4 was virtually headed by Ms. Sitharaman along with Sri Lanka’s President Ranil Wickremesinghe.
Additionally, the Thondaman Vocational Training Centre, upgraded with Indian assistance, was unveiled, along with the provision of school supplies for 10,000 children in plantation areas. Reflecting on India’s recent 4 billion US Dollars humanitarian aid to Sri Lanka during its economic crisis, Ms. Sitharaman highlighted the enduring bond of solidarity between the two nations.
Later, the finance minister addressed the India Sri Lanka business summit and called for more efforts to develop the energy sector. The minister applauded the Tourism and tea industry in the island and said that these two remain the strengths for Sri Lanka. She also called for a strong regional arrangement for common currency usage that could save foreign exchange.
The Finance Minister also called on the Sri Lanka President Ranil Wickremesinghe and held discussion on India-Sri Lanka joint initiatives in the economic and commercial sphere. She highlighted that the ‘Vision document on Economic Partnership’ adopted during Mr Wickremesinghe’s visit to India in July this year will further strengthen the countries’ maritime, air, digital, energy and people-to-people connectivity. Mr. Wickremesinghe emphasised on Sri Lanka’s vision to build a new market economy. He welcomed collaboration with India in tourism, sustainability, agricultural modernisation and digitisation.
The Union Finance Minister expressed satisfaction on the progress made in recent negotiations on the Economic and Technology Cooperation Agreement. Both leaders also witnessed exchange of Memorandum of Understanding on Solar electrification of religious places in Sri Lanka. For this project, India will allocate 82.40 crore rupees out of the Indian grant assistance of 107.47 crore rupees earmarked for the promotion of Buddhist ties.