The Japan Times - India's Modi clinches defence, energy deals in Sri Lanka

EUR -
AED 4.120156
AFN 72.364884
ALL 90.803943
AMD 404.528384
ANG 2.007949
AOA 1029.898611
ARS 1734.077131
AUD 1.621035
AWG 2.022213
AZN 1.906081
BAM 1.955937
BBD 2.253758
BDT 138.979752
BGN 1.960881
BHD 0.42253
BIF 3354.750342
BMD 1.121894
BND 1.432207
BOB 13.298696
BRL 6.180617
BSD 1.118979
BTN 105.025369
BWP 15.374599
BYN 3.350535
BYR 21989.116896
BZD 2.250558
CAD 1.584148
CDF 2570.258612
CHF 0.919678
CLF 0.027618
CLP 1086.958598
CNY 7.486172
CNH 7.481113
COP 3675.536984
CRC 506.835563
CUC 1.121894
CUP 26.855884
CVE 110.270772
CZK 24.341896
DJF 199.263982
DKK 7.475391
DOP 68.084777
DZD 152.624682
EGP 60.451115
ERN 16.828406
ETB 180.792892
FJD 2.526282
FKP 0.835984
GBP 0.834594
GEL 2.90596
GGP 0.835984
GHS 13.075684
GIP 0.835984
GMD 83.020251
GNF 9913.739794
GTQ 8.5506
GYD 234.582278
HKD 8.799058
HNL 30.074574
HRK 7.59411
HTG 146.670291
HUF 362.320075
IDR 20262.354178
ILS 3.543827
IMP 0.835984
INR 104.947573
IQD 1699.668985
IRR 2134162.158274
ISK 137.16221
JEP 0.835984
JMD 177.762473
JOD 0.795385
JPY 177.333286
KES 145.756022
KGS 98.109695
KHR 4566.320402
KMF 492.511066
KPW 1009.704304
KRW 1510.529067
KWD 0.348718
KYD 0.932565
KZT 502.045227
LAK 25242.608639
LBP 100206.73114
LKR 372.066107
LRD 190.233348
LSL 18.477482
LTL 3.31266
LVL 0.678622
LYD 7.190505
MAD 10.932472
MDL 20.170415
MGA 5155.101381
MKD 61.541364
MMK 2355.63634
MNT 4040.44421
MOP 9.037734
MRU 45.421187
MUR 52.76234
MVR 17.288641
MWK 1940.336146
MXN 20.784538
MYR 4.548717
MZN 71.700386
NAD 18.477574
NGN 1510.069344
NIO 41.083519
NOK 10.545145
NPR 168.037795
NZD 1.990812
OMR 0.43133
PAB 1.119079
PEN 3.85047
PGK 5.036742
PHP 70.770227
PKR 310.314733
PLN 4.385572
PYG 6994.490778
QAR 4.090487
RON 5.342349
RSD 117.608052
RUB 92.555869
RWF 1655.516162
SAR 4.218787
SBD 9.084309
SCR 16.429785
SDG 674.81632
SEK 10.994205
SGD 1.434341
SHP 0.834773
SLE 25.747516
SLL 23525.555278
SOS 639.544875
SRD 42.129343
STD 23220.934893
STN 24.501719
SVC 9.791687
SYP 14586.861783
SZL 18.395799
THB 37.502602
TJS 10.272421
TMT 3.937847
TND 3.374093
TOP 2.701251
TRY 56.347225
TTD 7.589533
TWD 36.871595
TZS 2967.406681
UAH 50.976387
UGX 4582.239831
USD 1.121894
UYU 45.123166
UZS 13422.941839
VES 1006.540888
VND 28695.797549
VUV 134.628489
WST 3.11898
XAF 655.957
XAG 0.021165
XAU 0.000272750831
XCD 3.031974
XCG 2.016742
XDR 0.793237
XOF 655.957
XPF 119.331742
YER 265.336214
ZAR 18.376058
ZMK 10098.392022
ZMW 22.743596
ZWL 361.24932
SSP 6446.193262
MXV 2.33655
  • RYCEF

    0.1000

    19.81

    +0.5%

  • VOD

    -0.2500

    16.33

    -1.53%

  • CMSC

    -0.2800

    20.12

    -1.39%

  • RBGPF

    -2.0000

    65

    -3.08%

  • RIO

    -0.2500

    94.16

    -0.27%

  • BTI

    -1.2000

    54.85

    -2.19%

  • NGG

    -0.3000

    74.94

    -0.4%

  • GSK

    -0.3500

    49.35

    -0.71%

  • BCE

    -0.4200

    20.14

    -2.09%

  • CMSD

    -0.3400

    19.93

    -1.71%

  • BP

    -0.9100

    43.52

    -2.09%

  • RELX

    0.1700

    33.24

    +0.51%

  • BCC

    -0.6200

    75.97

    -0.82%

  • AZN

    -1.9400

    164.21

    -1.18%

  • JRI

    0.0000

    10.77

    0%

India's Modi clinches defence, energy deals in Sri Lanka
India's Modi clinches defence, energy deals in Sri Lanka / Photo: Ishara S. KODIKARA - AFP

India's Modi clinches defence, energy deals in Sri Lanka

India secured defence and energy deals with neighbouring Sri Lanka on Saturday during Prime Minister Narendra Modi's visit, seen as a move to counter rival China's growing influence in the region.

Text size:

Sri Lankan President Anura Kumara Dissanayake rolled out the red carpet for Modi and conferred on him the country's highest civilian honour for "the deep personal friendship" shown to the smaller neighbour.

"We believe that our security interests are aligned," Modi said during a televised ceremony from Dissanayake's office in the capital.

"Our security is interdependent and interconnected."

A five-year defence cooperation agreement provides training of Sri Lankan military personnel in India as well as information and technology sharing.

Dissanayake applauded what he called "India's rise as a world power, not just a regional power".

"I have reiterated our position to Prime Minister Modi that Sri Lankan territory will not be allowed to be used by anyone to undermine India's security," he added.

India has previously objected to Chinese submarines and research vessels which have called at the main seaport in Colombo.

Sri Lanka has not allowed Chinese submarines to dock since 2014, after India raised concerns over two such visits.

Last year, Colombo imposed a ban on foreign research vessels following New Delhi's accusations that Chinese ships were being used to spy on India.

On Saturday, Dissanayake welcomed Modi -- the first foreign dignitary to visit Colombo since the leftist leader swept to power last year -- with a 19-gun salute.

- Balancing China -

The two leaders also celebrated the start of construction of a 120-megawatt solar power project, developed as a joint venture between the two nations.

The solar plant, located in the island's northeastern Trincomalee district, had been stalled for years but was reinvigorated with New Delhi's backing.

Modi's visit comes as Colombo grapples with the competing interests of New Delhi and Beijing.

India has become concerned about China's influence in Sri Lanka, which it sees as falling within its sphere of interest.

Dissanayake's first foreign visit was to New Delhi in December, but he followed it with a visit to Beijing in January, underscoring Sri Lanka's delicate balancing act.

China has emerged as Sri Lanka's largest single bilateral creditor, accounting for more than half of its $14 billion bilateral debt at the time the island defaulted on its sovereign debt in 2022.

Beijing was also the first to restructure its loans to Sri Lanka, a move that helped pave the way for the island to emerge from its worst economic meltdown.

In January, Colombo announced it had signed an agreement with a Chinese state-owned company to invest $3.7 billion in an oil refinery in the island's south.

The deal would mark Sri Lanka's largest single foreign investment and is seen as crucial for its economic recovery.

Modi's visit to Sri Lanka followed a summit in Thailand and a string of meetings with leaders of neighbouring nations as he sought to shore up India's regional ties.

On the sidelines of the Bangkok BIMSTEC meeting -- the grouping of seven nations on the Bay of Bengal -- Modi held a rare face-to-face meeting with Myanmar's junta chief, Min Aung Hlaing.

He also held talks on Friday with the interim leader of Bangladesh, Muhammad Yunus -- the first such meeting since a revolution in Dhaka ousted New Delhi's long-time ally Sheikh Hasina and sent relations into a tailspin.

India had been the biggest benefactor of Hasina's government, and her overthrow prompted Yunus to make his first state visit last month to China.

Modi also met on Friday in Bangkok with his Nepali counterpart, KP Sharma Oli -- their first meeting since Oli returned to power last year -- as well as Tshering Tobgay of Bhutan.

M.Yamazaki--JT