India and Sri Lanka must further bolster bilateral ties and explore policy options to minimise risks and volatility emanating from global economic and political developments, finance minister Nirmala Sitharaman has said, as she exhorted businesses to lead the efforts towards greater economic integration between the two countries.
She suggested that Sri Lanka explore the feasibility of widening its economic basket from just tourism and tea to focus on sectors like pharmaceuticals and renewable energy, according to a post by the Indian finance ministry on X (formerly Twitter). The minister was speaking on the theme of ‘Enhancing Connectivity: Partnering for Prosperity’ at the India Sri Lanka Business Summit in Colombo late Thursday.
Separately, Sitharaman held talks with Sri Lankan President Ranil Wickremesinghe on a wide range of issues, including bilateral cooperation in inter-grid connectivity, aviation, power projects and oil exploration in Mannar.
India, she said, would continue to collaborate with Sri Lanka on “matters pertaining to debt restructuring, in continued tradition of friendly relations between India and Sri Lanka”.
On Friday, the finance minister inaugurated the second branch of State Bank of India in Sri Lanka’s Jaffna.
