BRIDGE THIS DEFICIT BETWEEN INDIA AND SRI LANKA

• Sri Lanka’s President Ranil Wickremesinghe proposes establishing land connectivity with India, revisiting a two-decade-old idea.
• Originally suggested a bridge linking Rameswaram (India) and Talaimanar (Sri Lanka) for regional economic integration and growth.

Historical Opposition:

• Sinhalese-Buddhist groups opposed the idea, claiming it would not benefit Sri Lanka, leading to hesitations and criticisms.
• In 2015, when the Asian Development Bank offered funding for the bridge project, Sri Lanka faced opposition from project opponents.

Persistent Efforts:

• Despite challenges, President Wickremesinghe and Prime Minister Narendra Modi sustain the idea of land connectivity.
• Joint statement in July mentions a feasibility study for land connectivity, emphasizing regional economic collaboration.

Infrastructure Development Lag:

• Proposal to connect electricity networks dates back to 1970, with a memorandum of understanding signed over 13 years ago.
• Limited progress in transmitting electricity between India and Sri Lanka, contrasting with India’s successful energy collaborations with Bangladesh.

Trade and Economic Cooperation:

• India-Sri Lanka Free Trade Agreement (1998) hasn’t led to significant progress in economic and technology cooperation.
• Bilateral economic ties show potential, with India being a major source of imports and tourism revenue for Sri Lanka.

Trade Disparities:

• Bilateral trade between India and Sri Lanka in 2021 amounted to $5.45 billion, significantly lower than India’s trade with Bangladesh ($18.14 billion).

Recent Developments:

• Positive developments in the last year, including resumed air services, passenger ferry launches, and a joint venture in the dairy sector.
• Momentum suggests the potential for mutually beneficial economic relationships between India and Sri Lanka.

Call for Sustained Progress:

• Sri Lanka urged to move beyond historical challenges and embrace opportunities for economic cooperation with India.
• Emphasizes the need for sustained efforts to enhance connectivity, trade, and economic collaboration.