Indo-Sri Lankan Economic Partnership: Strengthening Regional Connectivity for Sustainable Prosperity

The Indo-Sri Lankan Economic Partnership aims to strengthen and improve relations between India and Sri Lanka in all dimensions. The two countries recognize the unparalleled advantages conferred by their civilizational ties, geographical proximity, cultural affinity, and ancient goodwill, and seek to utilize existing synergies to create shared and sustainable economic prosperity.

One of the main objectives is to increase regional shipping and transport connectivity through the development of Colombo, Trincomalee, and Kangesanthurai ports and their infrastructural resources. The two leaders have also agreed to resume shipping between Nagapattinam in India and Kangesanthurai in Sri Lanka, as well as to resume flight services between Jaffna and Chennai, with plans to expand connections to other places in Sri Lanka.

In addition, cooperation for the construction of a multipurpose petroleum pipeline from southern India to Sri Lanka has been agreed upon to ensure a reliable supply of cheap and reliable energy resources. The decision to use the Indian Rupee for trade transactions between the two countries has resulted in mutually beneficial and strong trade ties, and the implementation of a digital payment system based on the UPI platform has been agreed upon to further enhance trade and other transactions between business entities and common people.

Finally, efforts to create awareness and popularize India's Buddhist temples and Ramayana Yatra, as well as ancient Buddhist, Hindu, and other religious places of worship in Sri Lanka, have been made to promote tourism and people-to-people communication. The Indo-Sri Lankan Economic Partnership provides a unique opportunity for both countries to forge a closer and deeper bilateral economic partnership and promote development in the Indian Ocean region.