14 Jan The significance of India’s financial assistance to Srilanka in specific reference to India Srilanka bilateral relation GS Paper II Source : The Hindu
The significance of India’s financial assistance to Srilanka in specific reference to India Srilanka bilateral relation- Today Current Affairs
Context : India on Thursday (13th January )confirmed a $400 million currency swap with Sri Lanka while deferring another $500 million due for settlement to the Asian Clearing Union (ACU), in a move aimed at helping the island nation witnessing an unprecedented economic crisis.
Introduction : Srilanka is facing the problem of an economic crisis . Therefore She seeks financial support from China . From a strategic perspective Sri Lanka is a very important country for India. By providing financial assistance to Srilanka, India wants to reduce the influence of China on Srilanka
India and Srilanka , both are culturally similar countries and the Indian cultural relationship with Srilanka is too old as 2-3rd century BC. Tamil people have been culturally related with sri lanka for thousands of years
India Srilanka Relationship: The Hindu Analysis
India has had a very close relationship with Sri Lanka for a long time in each field (Political, economical, intellectual and religious also). As per the mythological texts of India Srilanka was conquered by lord Rama and during the historical period Asoka had extended his relationship up to Srilanka also. Buddhism from India reached Sri Lanka through various means (through ambassadors , merchants and the Buddhist monks). And this India Srilanka relationship is continuing up to mow in a very cooperative way. Indian supported during the time of Tamil crises when LTTE group challenged Srilankan government. Even Though we had to lost our ex prime minister Rajeev Gandhi .
Sri Lanka is a member of BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) and SAARC where India is also playing an important role . Therefore for India , Srilanka is a good neighbor as well as a good friend
Significance of Sri Lanka’s Cooperation: The Hindu Analysis
For India Srilanka is not a neighboring country only it has its geopolitical significance also . Srilanka is an island country and China is spreading its influence through huge investment in Srilanka . China is trying to strengthen herself in the Indian ocean. From the time the pandemic struck last year, China has topped the charts in providing crucial and timely support to Sri Lanka — by way of over $ 2 billion in loans and a currency swap, and Sinopharm vaccines totalling over a million in donation, and about six million for procurement so far.
This is significant, because in Sri Lanka’s Sinhala nationalist political landscape, resistance to the “imperialist” West, and “interventionist” India is a popular political position, dominating rhetoric in the country’s Sinhala-majority south, since its Independence in 1948, through its civil war years, and the decade after. But the growing skepticism of China, in public discourse and the media – including cartoons alluding to the dragon or Chinese flag – is relatively new.
In the words of Atal Bihari Bajpai – We can change our friend but we can not change our neighbor . Therefore, the policy of cooperation is the fundamental of Indian foreign policy. During the pandemic , if Sri Lanka is facing economic problems, therefore it is the duty of India to provide Srilanka financial assistance . In this way, one side India is fulfilling his duty or morality and on otherside Chinese influence in sri lanka would also be curtailed
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