India counts on SL to create business friendly environment : Dr. Jaishankar

• Says India hopes gravity of situation will be realized by policymakers here   
• India stresses need for rupee settlement for bilateral trade   
• Agreed on a renewable energy framework   

By Kelum Bandara 

Visiting Indian External Affairs Minister Dr. S. Jaishankar, in his remarks to the press, said India counts on the Sri Lankan government to create a business-friendly environment to create a powerful pull factor for Indian investments and hopes that the gravity of the situation will be realized by the policy-makers here.   

 He also stressed the need for the use of rupee settlements for trade and tourism with his country.   
 He said encouraging Indian tourists to make RuPay payments and utilize UPI would be most helpful. Commenting on Sri Lanka’s debt restructuring, he said. “We felt strongly that Sri Lanka’s creditors must take proactive steps to facilitate its recovery. India decided not to wait on others but to do what we believe is right. We extended financing assurances to the IMF to clear the way for Sri Lanka to move forward. Our expectation is that this will not only strengthen Sri Lanka’s position but ensure that all bilateral creditors are dealt with equally,”   
 Dr. Jaishankar said that India would encourage greater investments in the Sri Lankan economy, especially in the core areas like energy, tourism and infrastructure.   

 “We count on the Government of Sri Lanka to provide a more business-friendly environment to create a powerful pull factor. I am confident that the gravity of the situation is realized by policymakers here,” he said.   
 Asserting that Sri Lanka has potential for renewable energy, he said energy security is today one of Sri Lanka’s most serious challenges and a search for solutions must necessarily encompass the larger region. 

 
 “Only then will Sri Lanka get the full benefit of scale. This country has enormous renewable energy potential that can become a sustainable source of revenue. It has the capability as well for Trincomalee to emerge as an energy hub. In its support for Sri Lanka, India is prepared to be a reliable partner in such initiatives. 

We have today agreed in principle on a renewable energy framework that would take this cooperation,” he said.   
 He said, “India has always supported both the political and economic stability of Sri Lanka. The President briefed me on the question of political devolution and his thinking. 

I shared with him our considered view that the full implementation of the 13th amendment and early conduct of provincial elections are critical in this regard. Durable efforts towards reconciliation are in the interests of all sections in Sri Lanka.

•  I also spoke of the need to pay special attention to the requirements of the Indian-origin Tamil community.”   
• President invited to visit India soon   
• Reiterates call for 13A, early PC polls 
• India has always supported both the political and economic stability of Sri Lanka
• says that India would encourage greater investments in the Sri Lankan economy