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Ranil recalls how India overtook Sri Lanka in economic reforms journey while latter was hesitant at policy wheel

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Former president Ranil Wickremesinghe delivers the Atal Bihari Vajpayee Memorial Lecture in India recently

By Sanath Nanayakkare

During the Atal Bihari Vajpayee Memorial Lecture delivered by former president Ranil Wickremesinghe in India recently, he recalled that his first visit to India was as a young boy of 18 years to Chennai to sit for the London GCE A-level Examination — as was the practice in Sri Lanka at the time.

Referring to multiple interactions with Indian leaders over the decades which started in his role as an assistant to former president J.R. Jayawardene, he said,” When you have been in politics as long as I have, you end up knowing everyone – at some point or the other.”

The following are a few excerpts from his speech.

“I have also been an eyewitness to the pivotal and sweeping economic metamorphosis of India from the late 1990s onwards.”

“As you may recall, Sri Lanka was a forerunner in instituting an open economy in South Asia – as far back as in 1977. By 1989, as Minister of Industries, I had brought in the 2nd Generation Economic Reforms in the country, which included Sri Lanka’s Strategy for Industrialization. Not long after, in 1991, India’s first Generation of Economic Reforms were introduced by Prime Minister Narasimha Rao, whom I had known from the early 1980s, since he was my counterpart in India when I was the Minister of Education.”

“Dr. Manmohan Singh’s first budget speech as Finance Minister in Narasimha Rao’s government changed the course of Indian history. Without him, there would not have been any economic reforms in India, and without those reforms, there would not have been a modern India.”

“Indo-Sri Lank economic cooperation moves never kicked off as envisioned due to protests by certain political parties and trade unions in Sri Lanka.”

“However, the calamity of Covid-19 and the consequential economic crisis in Sri Lanka showed India at its best. At the most crucial moment when Sri Lanka declared bankruptcy and had only a few hundred million dollars in reserves, India valiantly stepped up to help us.

“The Sri Lankan people could not have survived without the 4 billion US dollars of financing received from India through various credit lines. It was India’s Neighborhood First Policy – in practice – that benefited Sri Lanka. India was followed by Bangladesh with a loan of US$200 million.”

“Furthermore, India, as a Co-Chair of the Official Creditors Committee, gave us valuable help. All this vindicated my stand on closer economic cooperation with India, including improving connectivity in key sectors.  By then, it was clear to most in Sri Lanka that recovery from bankruptcy and fast growth could be achieved only through closer economic collaboration with India. In July 2023, PM Modi and I announced the “Promoting connectivity, catalyzing prosperity: India-Sri Lanka Partnership Vision.”

“The strategy in these statements is to enhance Sri Lanka’s economic development by coupling our economic recovery to India’s sustained and swift economic growth and technological advancement. It is expected that by 2040, India would be the third-largest economic power in the world. By then, Tamil Nadu’s GDP would have reached US$1 trillion. This is the powerhouse to which Sri Lanka has to connect as a nation.  All this will establish larger markets for Sri Lankan exports and create two new economic sectors which are expected to be fast-growing. Establishing grid interconnectivity — thereby enabling Sri Lanka’s potential for surplus renewable energy to engage in trading with India and Bangladesh.”

“In the context of maritime and air connectivity – in addition to India as a global economic power, Indonesia will also be among the top 10 in time to come with Bangladesh following closely behind if all goes well.”

“This will lead to an explosion of trade in the Bay of Bengal area. As noted before, if Sri Lanka positions itself as a regional logistic hub, we can become a beneficiary of these developments in the region.”

Thus, the two governments must finalize the outstanding issues of the strategy within a short time frame and agree on the modalities to implement these proposals.   Today, it is only fitting that we witnessed the conclusion of the talks on economic cooperation on Vajpayeeji’s birth century.

During his speech, Wickremesinghe said that Atal Bihari Vajpayeeji had an instinctive understanding of the nation-building exercise and the need to maintain the unity of India’s diverse peoples.



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SLTDA launches NTSP campaign to elevate national tourism quality and standards

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Tourism top officials at Ella programme launch.

by Claude Gunasekera

The Sri Lanka Tourism Development Authority (SLTDA) officially launched its nationwide capacity-building campaign, “Grow your Tourism Business with National Tourism Skilling Programme (NTSP),” August 31, from the scenic regional hub of Ella. Directed under the leadership of the Tourism Deputy Minister, Prof. Ruwan Ranasinghe, the comprehensive initiative aims to transform micro, small, and medium enterprises (MSMEs) by accelerating their digital readiness and business formalization across the local hospitality ecosystem.

The entire islandwide operation is under the direct coordination of Ms. Tharanga Rupasinghe, the SLTDA Director of Standards and Quality Assurance, ensuring that all rural operators align seamlessly with international hospitality standards. By utilizing the framework of the NTSP, the campaign focuses on delivering essential digital payment tools, modern online marketing insights, and compliance frameworks directly to village-level enterprises, handcraft artisans, and independent tour operators. Speaking at the launch event in Ella, Tourism Deputy Minister Prof. Ruwan Ranasinghe emphasised that sustainable growth in the travel sector relies heavily on empowering smaller stakeholders to become resilient, data-driven participants in the modern market. “True economic resilience in our tourism sector cannot be achieved through large-scale infrastructure alone, but must be built from the ground up by transforming our local communities and regional MSMEs into direct, digitally enabled beneficiaries of global travel traffic,” Prof. Ranasinghe noted. Through this synchronized, localized training approach, the SLTDA intends to systematically protect cultural heritage while elevating the service quality benchmarks of regional travel hotspots nationwide.

Regional hospitality groups, led by the Ella Tourism Association, have strongly welcomed the launch of the SLTDA national skilling campaign, calling it a vital step toward safeguarding the destination’s international reputation. Local operators noted that rapid commercial growth in the Uva Province has highlighted an urgent need for structural standardization, making the arrival of the National Tourism Skilling Programme (NTSP) highly timely. The grassroots response focused heavily on the benefits of formalization and digital integration for the region’s diverse service sector. The Ella Homestay Owners Collective praised the focus on digital payment tools, noting that transition support will help smaller vendors capture direct bookings and reduce their reliance on third-party booking commissions.

The Uva Tuk-Tuk and Adventure Guides Association highlighted that the safety and compliance training will build trust with high-spending international travelers, effectively raising service quality benchmarks across the town. Local association leaders emphasized that having Ms. Tharanga Rupasinghe, SLTDA Director of Standards and Quality Assurance, directly coordinate the field training ensures the program addresses practical, local challenges rather than just theoretical rules. Following the initial rollout, regional committees have pledged to work alongside the SLTDA to ensure that even the smallest village artisans and micro-enterprises achieve official registration, positioning Ella as a model hub for high-quality, community-driven sustainable tourism.

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Sri Lanka–Indonesia Business Council holds 3rd Annual General Meeting

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Newly Appointed Executive Committee of SLIBC for the year 2026/2027

The Sri Lanka–Indonesia Business Council of The Ceylon Chamber of Commerce held its 3rd Annual General Meeting recently, bringing together Council members and key stakeholders to review the Council’s activities and priorities for the year ahead. The AGM was graced by Dewi Gustina Tobing, Ambassador of Indonesia to Sri Lanka and Patron of the Council

Delivering her address, Dewi Gustina Tobing, Ambassador of Indonesia to Sri Lanka, provided a comprehensive overview of Indonesia’s political and economic landscape, highlighting the country’s focus on promoting economic independence, strengthening sectoral resilience, improving public welfare, and facilitating both inbound and outbound investment.

Re-elected as President of the Council for 2026/27, Sheamalee Wickramasingha, Chairman / Group Managing Director of Ceylon Biscuits Ltd. acknowledged the instrumental role played by the Ambassador in the re-establishment of the Council and reflected on the Council’s key achievements during the past year. She highlighted the successful Sri Lanka–Indonesia Business Delegation to Indonesia, which provided valuable opportunities for Sri Lankan businesses to engage with Indonesian counterparts and explore avenues for commercial cooperation.

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LAUGFS Supermarkets opens 46th outlet in Kotahena

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LAUGFS Supermarkets has further strengthened its growing retail presence with the opening of its 46th outlet at No. 78, K.B. Christy Perera Mawatha, Kotahena. The new outlet operates 24 hours a day, offering customers a wide range of products together with bakery and hot food options, providing greater convenience and accessibility to the surrounding community.

The new Kotahena outlet further expands LAUGFS Supermarkets’ growing network and reflects the Group’s continued focus on strengthening its presence in strategic locations across the country. The opening ceremony was attended by the Group Chairman, Group Executive Vice Chairman, Acting Group Managing Director/Group Executive Director and senior management.

Commenting on the opening, the Sector Managing Director/CEO – Retail, Niroshan De Silva, said, “The opening of our 46th outlet reflects the dedication, teamwork and determination of our people, who have worked exceptionally hard to bring this outlet together. The new Kotahena outlet is designed to offer customers greater convenience, with an inbuilt bakery and hot food facility that provides freshly prepared food alongside our wide range of products, all under one roof. Our focus is to ensure that every LAUGFS Supermarket operates to the highest standards and consistently delivers quality, convenience and service excellence to our customers.”

The opening of the Kotahena outlet marks another significant milestone in LAUGFS Supermarkets’ ongoing expansion, bringing its products and services closer to more customers while further enhancing its 24-hour retail offering. With its growing network of outlets and continued focus on customer convenience and service excellence, LAUGFS Supermarkets remains committed to strengthening its presence and creating greater value for customers across Sri Lanka.

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