Nirmala Sitharaman holds fruitful discussions in Sri Lanka
Finance Minister of India, Nirmala Sitharaman led a five-member official delegation as well as a high-powered business delegation consisting of senior functionaries of leading industry organizations like Confederation of Indian Industry (CII) and Federation of Indian Chambers of Commerce & Industry (FICII) to Sri Lanka from 1–3 November 2023.
During the visit, Finance Minister Nirmala Sitharaman called on H.E President Ranil Wickremesinghe and H.E Prime Minister Dinesh Gunawardena.
She paid respects to the Chief Prelates of the Asgiriya and Malwatta chapters.
Also, she offered prayers at the sacred Sri Dalada Maligawa in Kandy and the sacred Jaya Sri Maha Bodhi Temple in Anuradhapura, in addition to Nallur Kandaswamy Temple in Jaffna. She was the Guest of Honour at the ‘Naam 200’ event to mark 200 years of the arrival of the Indian-origin Tamil community to Sri Lanka and delivered the keynote address at an India – Sri Lanka Business Summit – Enhancing Connectivity; Partnering for Prosperity.
During the visit, she also inaugurated the State Bank of India branches in Trincomalee and Jaffna.
She held fruitful discussions with the President of Sri Lanka, and they witnessed the exchange of bilateral documents, which paved the way for the early commencement of projects under the USD 15 million grant announced by Prime Minister Narendra Modi to promote Buddhist ties between the two countries.
The first project being undertaken under this grant is the solar electrification of places of worship across Sri Lanka with a grant allocation of $10 million and the MoU regarding details of the project was also exchanged yesterday.
The Finance Minister of India announced at the ‘Naam 200’ event that the Government of India would soon send trainers to equip teachers in STEM subjects in plantation regions of Sri Lanka.
As one of the first projects under the SLR 3 billion multi-sectoral package announced by Prime Minister Narendra Modi in July 2023 for the Indian-origin Tamil community, qualified trainers from India would be deployed in Sri Lanka for defined periods towards achieving this. She also outlined several other projects being rolled out under the package, including solar lanterns for plantation workers, stitching units for women’s self-help groups, etc.
In education, she kicked off the supply of notebooks and school bags to 10000 school-going children in the plantation regions.
She started a project to distribute RO plants among schools to address drinking water problems in select schools.
Marking a new milestone, she virtually launched Phase 4 of the flagship Indian Housing Project (IHP) to construct 10,000 houses for plantation workers and the President of Sri Lanka.
This is an extension of the third phase, where close to 4000 houses have been built in these regions. It may be recalled that around 50,000 homes have been completed under IHP to date.
She also virtually inaugurated the upgraded Thondaman Vocational Training Center in Hatton with President Wickremesinghe.
The government of India built several facilities in the Center and provided equipment, including desktop computers, towards imparting employable skills to youth.
The visit is expected to give further impetus to bilateral engagements in the economic sphere. Industry captains who visited Sri Lanka from several sectors actively sought mutually beneficial investment opportunities and sustainable commercial partnerships in Sri Lanka. The Business Summit was a meeting of minds platform where Indian and Sri Lankan business entities came together to discuss future collaborations.
It may be recalled that Finance Minister Sitharaman had strongly advocated for Sri Lanka in IMF meetings in 2022 which was critical in enabling the IMF package for Sri Lanka.
As the Finance Minister, her role in fast-tracking India’s multi-pronged support of $4 billion last year was instrumental.