Modi, Ranil boost ties, unveil a new economic partnership

India and Sri Lanka have announced a new economic partnership that includes maritime, air, energy, and financial connectivity. The partnership also involves the use of India’s Unified Payments Interface (UPI) system in Sri Lanka. The two countries have agreed on various initiatives such as a power grid interconnection, a petroleum pipeline, and the resumption of talks on an Economic and Technology Cooperation Agreement. India has extended economic support worth almost $4 billion to help Sri Lanka overcome its economic crisis. Prime Minister Narendra Modi also highlighted the importance of fulfilling the aspirations of Sri Lanka’s Tamil minority.