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What the article is about?
- Talks about India-Sri Lanka recent engagements and potential of the relationship.
Syllabus: GS-II India and its neighbourhood relations
India- Srilanka:
- India and Sri Lanka have a legacy of intellectual, cultural, religious, and linguistic interaction, and the relationship between the two countries is more than 2500 years old.
- Key Takeaways:
- Political: High level political exchanges
- Economic: Civil Nuclear Agreement (2014), India developing SEZ, Private Investments
- Defence and Military: Mitra Shakti, SLINEX
- Developmental Assistance: LoCs t help internally displaced people, Infrastructure and logistics support
- Cultural: Indian Culture Centre in Columbo, Buddhism, Tourism
- Recent engagements:
- 4 pronged initiative towards Sri Lanka:
- Lines of Credit(LoC) towards the import of fuel, food and medicines – $1.5 bn LoC is underway
- Currency Swap – India extended $400 mn under the SAARC currency swap
- Debt deferral from India – $500 mn by two months
- Trinco-oil farms project
- 4 pronged initiative towards Sri Lanka:
- Areas of Concern:
- Friction over fishermen’s rights
- Pending political solution for war torn Tamil areas
- Columbia’s strategic ties wit China
- Increased Chinese influence- infra, port developments
- Issue over Katchatheevu Island
