An important turning point in the two countries’ bilateral ties was reached on December 16, 2024, when Indian Prime Minister Narendra Modi met with Sri Lankan President Anura Kumara Dissanayake. Dissanayake’s first foreign tour since taking office made this meeting noteworthy and demonstrated how much he values fortifying relations with India.
As part of his pledge to regional stability and security, President Dissanayake promised that Sri Lanka would not permit its territory to be used for purposes that might harm India.
The two presidents talked about strengthening trade settlements in Indian and Sri Lankan rupees and conveyed gratitude for the India-Sri Lanka Free Trade Agreement (ISFTA). Modi emphasised India’s continued assistance, which includes grants and a $5 billion line of credit meant to promote Sri Lanka’s economic recovery.
In order to boost investment and business exchanges between the two countries, the leaders decided to start projects like a multi-product petroleum pipeline and an electrical grid connection.
During the conference, a number of agreements were struck, including ones on preventing double taxation and strengthening programs for training and capacity building. Cooperation in fields including education, renewable energy, and digital identity initiatives was also discussed.
Both presidents agreed that a humanitarian approach is necessary to find long-term answers to the controversial topic of fishermen’s rights.
Amid worries over China’s expanding influence in the area, Modi stressed the significance of security ties by announcing plans to quickly finalise a defence cooperation deal.
