‘India is an age-old friend of Sri Lanka’. Discuss India’s role in the recent crisis in Sri Lanka in light of the preceding statement. (150 words) [2022]

India and Sri Lanka have a long history of cultural and economic ties, with India often being described as an “age-old friend” of Sri Lanka. In recent years, India has played an active role in supporting Sri Lanka’s economic development, particularly in times of crisis.

One example of this is the recent economic crisis that Sri Lanka has faced. In 2019, Sri Lanka experienced a balance of payments crisis and sought assistance from the International Monetary Fund (IMF) and other international partners. In response, India provided economic support to Sri Lanka through various measures, including a $400 million currency swap agreement and a $1 billion line of credit.

In addition to this, India has also provided technical assistance to Sri Lanka through programs such as the Indian Technical and Economic Cooperation (ITEC) program, which provides training and capacity building opportunities to Sri Lankan officials and professionals. India has also supported Sri Lanka’s economic development through investments in infrastructure projects, such as the construction of the Colombo-Katunayake Expressway.

Overall, India has played a significant role in supporting Sri Lanka’s economic development and stability in the face of recent challenges. Its assistance has helped to strengthen the economic and diplomatic ties between the two countries, and has contributed to the overall growth and prosperity of Sri Lanka.

Mind map notes for UPSC
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