Sri Lankan President Wickremesinghe conveys gratitude to India for help during economic crisis

Ranil Wickremesinghe said, "Having now survived two difficult years, I must acknowledge that this was possible because India gave us a loan of $3.5 billion."

Ranil Wickremesinghe, President of Sri Lanka, thanked India for helping the country during its two difficult years while speaking at the 31st All India Partners' Meet 2024 convened in Colombo by KPMG in India. He said, "Having now survived two difficult years, I must acknowledge that this was possible because India gave us a loan of $3.5 billion."

He affirmed his commitment to maintaining a strong partnership with India to achieve the country's development. He further added, India is on our agenda. Last week in Delhi, I discussed the need to accelerate the joint programmes with Prime Minister Modi that we have decided, and agreed on."

The President emphasised the urgency of expediting joint initiatives between both countries. He said the government will introduce policies aimed at achieving economic transformation by moving towards a highly competitive, digital, green and export-oriented economy, adding that these policies will establish benchmarks for foreign investments in the country. The government will try to enhance export earnings and reduce multi-dimensional poverty.

He stressed to work collectively with India in the field of energy, aiming to foster new development in the Northern region. The northern region of the country has been deeply affected by three decades of conflict. Sri Lanka will establish an International Trade Office to enhance global trade and a National Productivity Commission to boost productivity, the President said while addressing meet.

Giving assurance on the stable policies, he said, "Traditionally, policies in Sri Lanka have been subject to change with each new government. To address this, we have drafted the Economic Transformation Bill, currently undergoing pre-legislative scrutiny in Parliament and the courts." In addition, Sri Lanka will establish new institutions, such as the Economic Commission, which will assume responsibilities from the BOI to drive investment

KPMG in India hosted the 31st All India Partners Meet in Colombo, from 20-22, June. About 600 Indian partners attended the annual meeting of the firm. The film facilitates investments and enables ease of doing business with the support of India and several State Governments, according to the firm.

In addition to this, the firm is also engaged in several flagship projects - both in India and overseas - across multiple sectors, including tourism, agriculture, health, skilling, and public finance management. (ANI)

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