During the meeting, Minister Sitharaman praised Sri Lanka’s natural resources and human talent, emphasizing the potential for growth through closer engagement with India’s expanding economy. She highlighted that stronger local industries and wider market access would help bolster Sri Lanka’s economic independence.
Premadasa thanked India for its USD 4 billion assistance during Sri Lanka’s 2022 financial crisis—the largest extended by any single nation—and commended India’s progress in financial inclusion, industrial development, and digital governance. He noted that despite signs of recovery, Sri Lanka still faces significant challenges such as rebuilding reserves, diversifying exports, and tackling poverty.
Both parties emphasized the importance of transparency and trust in bilateral cooperation. Premadasa proposed establishing an India–Sri Lanka Industrial Zone to encourage joint ventures and technology exchange, and called for an updated Indo-Lanka Free Trade Agreement reflecting current trade realities.
