Highlighting the strategic importance of the Indian Ocean, Sri Lankan Member of Parliament Sujeewa Senasinghe delivered a keynote address at the NXT Conclave 2026 in new Delhi on the future of sea trade and transshipment between India and Sri Lanka.

Tracing the evolution of maritime commerce, he noted that trade hubs like Petra, Alexandria and Constantinople shaped early global commerce, while European powers later expanded trade through conquest and innovation. “Sea trade is not new for this region. It started from South India nearly 3,000 years ago, exporting cinnamon and pepper along the ancient incense route,” he said.

Turning to the modern era, he emphasized the significance of the Indian Ocean, which accounts for 44 percent of the world’s surface, 65 percent of its population and 70 percent of shipborne energy transport. “India is growing at 7.2 percent, Sri Lanka may lag behind now, but together we have brilliant potential. Our population is no longer a hindrance—it is our greatest asset,” he remarked.

Senasinghe stressed that India and Sri Lanka’s ports should be complementary rather than competitive. “Sri Lankan ports, including Hambantota, Colombo and Kankesanthurai, enhance connectivity for the region. The hub-and-spoke model ensures Indian cargo ships retain efficiency without undermining Sri Lanka’s growth,” he explained. He highlighted that Sri Lanka’s connectivity index ranks 18th in South Asia and could rise to the top 10 with infrastructure improvements.

He also outlined the region’s energy potential. “Sri Lanka has the capacity to generate 60 gigawatts of wind energy. With just 20 gigawatts transmitted to India, we can support the country’s growing electricity needs at highly competitive costs,” he said, adding that such collaboration could help reduce India’s reliance on volatile global oil markets.

He underscored the strategic importance of Sri Lanka as a maritime buffer. “Working hand in hand, India and Sri Lanka can secure the southern gateway, enhance trade efficiency and foster regional development.”

With container volumes in Sri Lanka projected to nearly double by 2040 and energy collaboration offering cost-effective solutions, Senasinghe signalled a strong vision for an integrated Indian Ocean trade network. “By combining our ports, populations and renewable energy potential, India and Sri Lanka can lead a new era of regional prosperity,” he said.

Source: The Sunday Guardian

--Agencies