India, Sri Lanka sign agreement for $318 mn line of credit
The Dollar Business Bureau India on Tuesday signed a pact with Sri Lanka for a $318 million line of credit for developing the railway sector of island nation, according to officials. RHS Samaratunga, Secretary in the Ministry of Finance and Mass Media of Sri Lanka, and David Rasquinha, Managing Director of Export Import Bank of India in Colombo signed the agreement. Prime Minister Narendra Modi, during his first visit to the island nation in 2015, had announced a $318 million line of credit for development of railway sector of the country. The visit was the first standalone bilateral visit since 1987 by an Indian prime minister and had come in the wake of rising presence of China in the Indian Ocean country. China has been ...
India-Sri Lanka ETCA may soon be a reality
The Dollar Business Bureau The India-Sri Lanka Economic and Technology Cooperation Agreement (ETCA), which is an upgrade over the two countries’ existing Free Trade Agreement (FTA), could soon be a reality. “It is up to Sri Lankans themselves to decide on the contours of any agreement that they sign with a foreign country,” India’s High Commissioner in Colombo Y K Sinha said on the occasion of the 70th Independence Day. “However, there has to be “genuine debate and discussion” among stakeholders in Sri Lanka,” he said. Referring to the latest rounds of discussion over the pact in Colombo Sinha hoped that the agreement, once formally inked, would benefit the two neighbours. “It will be a win-win situation for all,” he remarked. India’s bilateral trade with Sri ...
India-Lanka ETCA to benefit all: Indian envoy
The Indian envoy has come under fire from the opposition and professional groups who even suggested that he be expelled for his ETCA favoured comments Source: PTI India has been given only the outline of the ETCA agreement and proper negotiations have not yet commenced India has received the draft framework on the proposed Economic and Technology Corporation Agreement with Sri Lanka and is still studying it, the Indian envoy said in Colombo on Saturday, underlining that the deal will benefit both the countries. "Last week we have received the draft of the agreement prepared by Sri Lanka. India is currently studying it and a response will be sent," Indian High Commissioner (Ambassador) Y K Sinha said during a visit to the central ...
