India Sri Lanka Relation: India's neighboring country Sri Lanka is facing the most dangerous economic decline. Sri Lanka's foreign reserves have reached their historic low at this time. President Gotabaya Rajapaksa's government is ready to do anything amid dwindling foreign exchange reserves, wildly rising prices, and prospects of a food shortage. Sri Lankan leaders are blaming Corona for this situation, but critics are blaming the government for this. The eyes of the Sri Lankan government are on India in times of crisis. In such a situation, questions are being raised that why the friendly countries of Sri Lanka, China, and Pakistan are not active in this matter? What is the main reason behind this? Will India help bring sweetness to the relations between Colombo and New Delhi? Will the two countries forget their differences and come closer to each other?
1- Prof. Harsh V Pant says that the economic crisis of Sri Lanka is also affecting its foreign policy. There is a change in the foreign policy of Sri Lanka. This is the reason why Sri Lanka going to China is now trying to build better relations with India. Behind this is the debt policy of the Dragon and the policy of positive attitude of the Modi government of India toward the neighboring countries. He said the relations between New Delhi and Colombo have not been very cordial in recent years. Relations between India and Sri Lanka have deteriorated, especially during the tenure of Maithripala Sirisena. The reason for this was that Sirisena was inclined towards China.
2- Prof Pant said that Prime Minister Narendra Modi's Neighborhood First Policy has paid off the initiative to build better relations with India's neighboring countries. Indian External Affairs Minister S Jaishankar's visit to Sri Lanka after the Presidential elections in Sri Lanka should be seen as part of this episode. Just after the formation of the new government in Sri Lanka, India took a positive initiative by forgetting all differences. He met Gotabhaya Rajapaksa and also invited PM Modi to visit India, while Gotabhaya was inclined towards China. After this Gotabhaya visited India. During this, there was warmth between the two countries. It was a major diplomatic victory for India. He said that Jaishankar's visit to Sri Lanka was very important. After this, it was very important for Gotabhaya to come to India at the invitation of Modi. After that, the talks between the two countries went well. There were signs of improvement in relations.
3- He said that Sri Lanka is badly stuck in the quagmire of debt. In 2010, Sri Lanka had a debt of 39 percent of its Gross National Income (GNP). After nine years i.e. in the year 2019, this debt increased to 69 percent. A major crisis arose in Sri Lanka when in the year 2021, the foreign exchange reserves were reduced to just $ 2.8 billion. Sri Lanka is buried under the burden of China. This can be gauged from the fact that $4.06 billion in debt is 60 percent of the total debt taken from China.
China's love of Sri Lanka is a threat to India
1- Sri Lanka's love for China can be gauged from the fact that India is behind China in terms of investment. China invested 23.6% in Sri Lanka between 2010 and 2019. During this period, India's investment stood at 10.4 percent. That is, China invested twice as much as India. Sri Lanka canceled the East Container Terminal project with India Japan.
2- Sri Lanka's Hambantota port is strategically very important for India. India's concerns had also increased due to the lease of this port to China. This port is becoming a big problem for India. If this port remains with China for 99 years, then the full attention of its navy will be there. The special thing is that it is a gateway to the Indian Ocean region. At the same time, the condition of Sri Lanka has also worsened due to China's debt. Because of this also Gotobhaya Rajapaksa came to India and is trying to improve relations.
Sri Lanka's political family in crisis
President Gotabaya Rajapaksa and his brothers Mahinda Rajapaksa and Basil Rajapaksa are responsible for getting Sri Lanka out of the crisis. Mahinda has been the President of the country twice in Sri Lanka. At present, he is the Prime Minister of the country. The relations between China and Sri Lanka were strengthened during Mahinda Rajapaksa's presidency. Basil Rajapaksa is an American citizen. Presently he is the Finance Minister of Sri Lanka. The Sri Lankan government amended the constitution to make Basil the finance minister. Under this, the way was opened for foreign nationals to become members of Parliament. Now the responsibility of getting Sri Lanka out of this economic crisis rests on this political family sitting in the power of Sri Lanka.
Indian External Affairs Minister on his visit to Sri Lanka
Significantly, Indian External Affairs Minister S Jaishankar is on a visit to Colombo. After meeting Sri Lanka's Finance Minister Basil Rajapaksa, Jaishankar tweeted that the economic situation in Sri Lanka and India's supportive response has been discussed. He stressed that we will continue to follow our Neighborhood First policy. After the fuel shortage, Jaishankar also visited Lanka IOC, which is a local subsidiary of Indian Oil, on this tour. Jaishankar met Tamil leaders on Monday. The Indian External Affairs Minister has met Tamil leaders at a time when Sri Lanka's President has sought the cooperation of minorities to rebuild the nation for the first time after two years of assuming office. India continues to pressurize the Sri Lankan government to amend the constitution to give rights to the Tamil minorities. Sri Lanka has indicated that Tamils issues will also be addressed in the new constitution.
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