India sees a chance to make Sri Lanka ‘a virtual province’ amid its rivalry with China
Posted on May 20th, 2024

Courtesy The South China Morning Post

  • Indian companies have made a flurry of business deals with Sri Lanka since the struggling island nation declared bankruptcy in 2022
  • A new lease on a Chinese-financed airport shows New Delhi is gaining the upper hand over Beijing in their rivalry to woo Colombo, analysts say
  • India is set to wield greater influence in Sri Lanka as its companies flock to sign deals with the heavily indebted island nation in sectors ranging from energy to maritime logistics, even as some analysts question their commercial viability.
  • Among the recent high-profile deals involving Indian companies was a 20-year power purchase agreement with Adani Green Energy, a subsidiary of India’s Adani Group, announced by Sri Lankan President Ranil Wickremesinghe earlier this month.

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