Sri Lanka hails India’s efforts, Here’s what President Wickremesinghe said.

Days ahead of Lankan President Ranil Wickremesinghe‘s India tour, he said that Sri Lanka wants to see the Indian Rupee used as much as the US dollar. Sri Lanka’s President, who is also the country’s finance minister, made these remarks while addressing the Indian CEO Forum this week. President Ranil Wickremesinghe hails India ahead of […]

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Edited By: Alina Khan
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Days ahead of Lankan President Ranil Wickremesinghe‘s India tour, he said that Sri Lanka wants to see the Indian Rupee used as much as the US dollar.

Sri Lanka’s President, who is also the country’s finance minister, made these remarks while addressing the Indian CEO Forum this week.

President Ranil Wickremesinghe hails India ahead of his visit 

“Just as East Asia, including countries like Japan, Korea and China, witnessed significant growth 75 years ago, it is now India’s turn, along with the Indian Ocean region,” he said.

The president is expected to visit New Delhi next week. Also, this will be his first state visit since becoming president last year amid the unprecedented economic and political crisis.

His remarks came in response to the chair of the Forum, TS Prakash, who in his address had called for the enhanced use of the Indian rupee in the Sri Lankan economy.

“It makes no difference to us if India (the Indian rupee) becomes a common currency. We will have to figure out how to go about it. We must become more open to the outside world,” the president said.

Sri Lankan President on PM Modi’s leadership 

Moreover, he added, “The world is evolving and India is undergoing rapid development, particularly under Prime Minister Modi’s leadership.”

Speaking to the media, President Wickremesinghe said that the country benefits from its proximity to India, coupled with a rich history, cultural heritage and longstanding trading relationships spanning 2,500 years.

He has steered the country out of the economic crisis and said the economy is recovering despite its slowness.

Once we complete debt restructuring our focus will shift towards a comprehensive growth agenda. This entails a massive overhaul of our economy, legal framework and systems aligning our path with that of India,” he said.

India’s aid to Sri Lanka during crisis

During the severe crisis, India stepped out to hold the island nation with a relief of 4 billion dollars. The country also used the Indian credit lines to import essentials and fuel as the country was gripped in forex shortages which triggered massive street protests.