News
Sri Lanka notifies Indian rupee as designated currency
Sri Lanka has notified the Indian rupee as a designated currency, Indian External Affairs Ministry Spokesperson Arindam Bagchi said on Thursday (July 20).
“In terms of trading in our national currencies, Sri Lanka has already notified India Rupee as designated foreign currency in their system,” Bachi said during a weekly media interaction in New Delhi.
Making Indian rupee (INR) as a designated foreign currency enables not only trade settlement between the two countries in INR but also Indian tourists coming to Sri Lanka can use INR for transactions.
Deepening financial and economic connection Bagchi said that the utilisation will depend on India’s private sector and people who engage in the trade sector.
“We would like to deepen this financial and economic connection. It will be premature to comment today on it, when the visit is tomorrow,” he added.
The comments came hours before Sri Lankan President landed in the capital New Delhi to kickstart his two-day visit to India.
Wickremesinghe in India
Wickremesinghe was invited by Prime Minister Narendra Modi and is the first Sri Lankan leader to visit since the island nation was hit by an unprecedented economic crisis last year.
Notably, this is also the first time that the 74-year-old Sri Lankan leader is vising India since he assumed office in July 2022 after his predecessor, Gotabaya Rajapaksa, fled Sri Lanka amid massive public protests.
President Wickremesinghe is expected to visit his Indian counterpart Droupadi Murmu and discuss various issues of mutual interest with Prime Minister Narendra Modi and other Indian dignitaries, the Ministry of External Affairs said in a press release.
The Indian Ministry of External Affairs (MEA) in a press release noted, “Sri Lanka is an important partner in India’s Neighbourhood First Policy and Vision SAGAR. The visit will reinforce the longstanding friendship between the two countries and explore avenues for enhanced connectivity and mutually beneficial cooperation across sectors.”
India helping Sri Lanka
Meanwhile, Bagchi earlier in the day said that Wickremesinghe’s India visit is a major one as the country has important, multifaceted relations with the island nation.
“This is a very important visit, it is a neighbouring country with whom we have very important relationship, we have multifaceted relations,” he said.
Ever since Sri Lanka plunged into economic chaos, India has been helping the island country by providing aid, medicines and other essential items.
Last year, India gave aid worth almost $4 billion, including currency support, deferred payment of loans and lines of credit for emergency purchases of food, fuel and medicines, to Sri Lanka.
Sri Lanka will now focus on grid connectivity between the two countries, port development and renewable energy projects, largely in the northern part of the island, when President Ranil Wickremesinghe visits India from July 21 for two days, Foreign Minister Ali Sabry told reporters on July 10. – WIO
News
Representatives from the Ceylon Chamber of Commerce meet PM
Representatives from the ’The Ceylon Chamber of Commerce’ met with Prime Minister Dr. Harini Amarasuriya on Wednesday [24th of June] at the Parliament premises.
During the meeting, discussions focused on the Sri Lanka Economic and Investment Summit 2026 (SLEIS 2026), which is scheduled to be held on 12 and 13 October 2026. Attention was also given to digitalization initiatives, the introduction of digital technologies in schools under new education reforms, and the transformative role of Artificial Intelligence (AI) in Sri Lanka’s education sector.
Representatives of the Chamber noted that the summit would serve as an important platform for encouraging both local and foreign investment, while also contributing to the shaping of the country’s future economic policies.
The meeting was attended by Krishan Balendra, Chairman of The Ceylon Chamber of Commerce; Vinod Hirdaramani, Deputy Vice Chairman; Shiran Fernando, Secretary General and Chief Executive Officer; Aliki Perera, Deputy Secretary General and Chief Operating Officer; and Anagi Rodrigo-Weerasekera, Chief Economist and Head of Economic Intelligence, along with several other representatives.
[Prime Minister’s Media Division]
News
Progress of Housing Project for Malayagam Community families funded by India reviewed
A discussion to review the progress of the housing project under which 4,700 houses are being constructed for the Malayagam community with Indian assistance was held this afternoon (24) at the Presidential Secretariat under the chairmanship of the Chief of Staff to the President, Prabath Chandrakeerthi.
Under this housing programme, 2,026 houses are to be provided to families identified by the National Building Research Institute (NBRI) as being at disaster risk. The remaining houses are expected to be allocated to eligible workers residing in the plantation sector.
Accordingly, the houses will be provided to Malayagam community families living on estates belonging to 22 Regional Plantation Companies, as well as estates under the State Plantations Corporation, Janawasama and Elkaduwa Plantations.
For the construction of each house, the Government of India has allocated Rs. 2.8 million, while the Government of Sri Lanka has contributed Rs. 400,000.
During the discussion, Chandrakeerthi instructed officials to ensure that the housing project is completed before the end of this year. He further directed that land identified for the construction of houses be released without delay and that the National Building Research Institute provide the necessary reports to identify suitable land for the project.
The housing project is being implemented jointly by the Ministry of Plantation and Community Infrastructure, the National Housing Development Authority, the State Engineering Corporation and the Plantation Human Development Trust.
Among those present were Additional Secretary (Development) of the Ministry of Plantation and Community Infrastructure, K. S. Wijayakeerthi; Director General (Engineering), N. D. N. Pushpakumara; Director General (Planning), W. A. K. S. Damayanthi; the Secretary General of the Planters’ Association; and officials from the National Housing Development Authority, the State Engineering Corporation, relevant institutions and plantation companies.
(PMD)
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