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Updated Mar 03, 2021 | 12:04 IST
The latest development comes just weeks after Colombo decided to reverse course on a 2019 agreement that would have seen India and Japan build the East Container Terminal at the Colombo Port. Sri Lankan President Gotabaya Rajapaksa. | Photo Credit: PTI
Key Highlights
According to the latest reports, the Indian High Commission in Colombo has “approved” the offer, yet no statement has been released from India s Ministry of External Affairs
Following Sri Lanka s difficulties in servicing Chinese debt, the government ceded ownership of the China-financed Hambantota Port Project with Colombo giving the port on lease to Beijing for a period of 99 years in December 2017
India Seeks to Counter China in Sri Lanka India for strengthening economic ties with Lanka
COLOMBO: With Sri Lanka drifting towards China to get funds for infrastructural development, India is anxious to demonstrate that it also can contribute to Sri Lanka’s economic development. This came out clearly in the statement made by the Indian Foreign Minister Dr.S.Jaishankar to the media here on Wednesday after he met Lankan President Gotabaya Rajapaksa.
The media statement touched upon a wide range of issues but it was predominantly about possibilities in economic cooperation. Jaishankar said that he would be meeting the Sri Lankan business community.