India, Sri Lanka forge strong economic partnerships during PM's Visit
ECONOMY & POLICY

India, Sri Lanka forge strong economic partnerships during PM's Visit

Indian Prime Minister Narendra Modi announced that India and Sri Lanka will conduct feasibility studies on a petroleum line and land bridge connectivity between the two countries, which has the potential to significantly enhance sub-regional integration in the Indian Ocean Region. This announcement followed talks with Sri Lankan President Ranil Wickremesinghe during his two-day visit to India.

During the meeting, the two leaders unveiled five pacts, including a memorandum of cooperation for economic development projects in Sri Lanka's Trincomalee district and a memorandum of understanding on renewable energy. President Wickremesinghe emphasised that the two countries have agreed on a shared vision to strengthen their economic partnership.

Both leaders emphasised their commitment to widening bilateral relations, with agreements signed on technology, renewable energy, and improved connectivity. They expressed their desire to enhance maritime, air, and energy connectivity between their citizens, as well as to boost mutual cooperation in areas such as tourism, trade, and higher education.

President Wickremesinghe viewed his visit to India as an opportunity to review the bilateral relationship, build upon the historical and cultural ties between the two nations, and foster trust and confidence for their future prosperity in the modern world.

Prime Minister Modi highlighted the significance of Sri Lanka in India's "Neighbourhood First" policy and the 'SAGAR' vision. He affirmed that India and Sri Lanka's security interests and development are closely interconnected, reflecting the importance of a strong partnership between the two neighbouring countries.

Indian Prime Minister Narendra Modi announced that India and Sri Lanka will conduct feasibility studies on a petroleum line and land bridge connectivity between the two countries, which has the potential to significantly enhance sub-regional integration in the Indian Ocean Region. This announcement followed talks with Sri Lankan President Ranil Wickremesinghe during his two-day visit to India.During the meeting, the two leaders unveiled five pacts, including a memorandum of cooperation for economic development projects in Sri Lanka's Trincomalee district and a memorandum of understanding on renewable energy. President Wickremesinghe emphasised that the two countries have agreed on a shared vision to strengthen their economic partnership.Both leaders emphasised their commitment to widening bilateral relations, with agreements signed on technology, renewable energy, and improved connectivity. They expressed their desire to enhance maritime, air, and energy connectivity between their citizens, as well as to boost mutual cooperation in areas such as tourism, trade, and higher education.President Wickremesinghe viewed his visit to India as an opportunity to review the bilateral relationship, build upon the historical and cultural ties between the two nations, and foster trust and confidence for their future prosperity in the modern world.Prime Minister Modi highlighted the significance of Sri Lanka in India's Neighbourhood First policy and the 'SAGAR' vision. He affirmed that India and Sri Lanka's security interests and development are closely interconnected, reflecting the importance of a strong partnership between the two neighbouring countries.

Next Story
Infrastructure Urban

CONCOR Launches Double-stack Service Between NCR and Varnama

State-run Container Corporation of India (CONCOR) has launched double-stack container train services between the National Capital Region (NCR) and Varnama near Baroda. This initiative aims to facilitate customers at Nhava Sheva near Mumbai, home to Jawaharlal Nehru Port (J N Port). On December 21, the first double-stack container train from Khatuwas and Dadri in NCR reached CONCOR’s Gati Shakti Multimodal Cargo Terminal (GCT) at Varnama, situated along the Western Dedicated Freight Corridor (WDFC). The train carried export cargo destined for J N Port, according to a statement from the state..

Next Story
Infrastructure Transport

Less than 10% of Rs 40 Billion State-aid for Shipbuilding Utilised

A government-sanctioned financial assistance program worth Rs 40 billion, intended to support local shipbuilders over a decade starting in April 2016, has seen minimal utilisation, with only Rs 3.85 billion—less than 10 per cent of the total fund—disbursed thus far. With 15 months remaining before the scheme concludes, its uptake has been limited. The financial aid applies to shipbuilding contracts signed between April 1, 2016, and March 31, 2026. According to a written response provided by Union Minister of Ports, Shipping, and Waterways Sarbananda Sonowal to the Rajya Sabha on December ..

Next Story
Infrastructure Transport

Civil Aviation Minister Opens New ATC Tower at Indore Airport

The Minister for Civil Aviation, Ram Mohan Naidu Kinjarapu, inaugurated the new Air Traffic Control (ATC) Tower-cum-technical block at Devi Ahilyabai Holkar International Airport in Indore, Madhya Pradesh. During the inauguration, the minister toured the facility, where ATC experts explained various technical aspects of tracking and coordinating flights from the newly constructed tower. In addition to the ATC tower, the airport has also introduced a zero-waste plant. The union minister confirmed that this initiative aligns with the government’s commitment to sustainability. Minister Ki..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000