header logo
SLIC
Rhythms of Lanka
Latest
India not capable of providing large investment and loans to SL?
Aug 24, 201511:40 PM
India not capable of providing large investment and loans to SL?
Mobitel inner 1278

China’s state media today said Sri Lanka should retain friendship with cash-rich China as India is “not capable of providing large investment and loans”, in the first commentary following the defeat of pro-Beijing Mahinda Rajapaksa in the recent parliamentary elections. 

 

 

 

As the new Sri Lankan government seeks to reverse the pro-China policy pursued by Rajapaksa, an article by a state- run thinktank said the former president turned pro-China only after he was pressured by India and the West over alleged human rights violations following the war with the LTTE. 

 


Rajapaksa, 69, was defeated politically for the second time by an alliance led by Prime Minister Ranil Wickramasinghe who was backed by President Maithripala Sirisena. 

 


Rajapaks’a defeat in the August 17 polls has cemented the hold of Sirisena over the government and the opposition United Peoples’ Freedom Alliance (UPFA) and its main constituent, the Sri Lanka Freedom Party (SLFP), analysts say. 

 


“Sirisena’s wish to get investment and assistance from India is unrealistic. India itself needs enormous funds to improve its own basic infrastructure. Despite (Prime Minister) Modi’s ambition, the Indian government is not capable of providing large investment and loans,” the article in Global Times said. 

 


It said: “Besides, Indian enterprises, especially in the construction and infrastructure sectors, cannot compete with Chinese ones in either funds or technology and can hardly replace the Chinese ones in Sri Lanka.” 

 


“It is not that Rajapaksa didn’t want close ties with India. But when Rajapaksa asked for funding and contracts from India when the country built the Hambantota Port, India declined to help and Rajapaksa had no choice but to turn to China.” 

 


The article said that India is “willing to see Sirisena reduce his dependency on China with an omni-directional diplomacy, but India doesn’t like it unless Sri Lanka puts India first.” 

 


It said despite rivalry with Japan, China is “willing to see” more Japanese investments in Sri Lanka as “the two have common interests in safeguarding freedom of navigation in the Indian Ocean.” 

 


“China is willing to see Japan provide assistance to Sri Lanka. At the same time, India is not against Japan’s presence in the Indian Ocean,” it said. 

 


“The growing importance of the Indian Ocean has made Sri Lanka of greater interest to big powers, which will bring huge development opportunities for the country. Sirisena should retain a good relationship with China, and meanwhile warm up ties with the West, India and Japan. 

 


“He should inject new impetus to the country’s development rather than striking a poor balance with these partners at the cost of relations with China,” it said. 

 


The Chinese media has earlier blamed western and Indian media for projecting Rajapaksa’s pro-China. Sri Lanka had secured a USD 5 billion loan for strategic projects from China during Rajapaksa’s tenure, expanding Beijing’s influence in India’s backyard. (PTI)

 

 

 

MostRead
Mobitel 1278
VideoStories
 "Sri Lanka faces new economic crisis after 2028"; Former President Ranil Wickremesinghe warns

"Sri Lanka faces new economic crisis after 2028"; Former President Ranil Wickremesinghe warns

 BASL challenges 22A before SC; calls for full bench to examine the constitutionality of the bill

BASL challenges 22A before SC; calls for full bench to examine the constitutionality of the bill

Govt. ready for public referendum if ordered by SC, 22A Parliament debate in Sept. or Oct. – Nalinda

Govt. ready for public referendum if ordered by SC, 22A Parliament debate in Sept. or Oct. – Nalinda

 22nd Amendment tabled in Parliament by Justice Minister amidst strong opposition

22nd Amendment tabled in Parliament by Justice Minister amidst strong opposition

Bank officials nabbed over US$ 1B Undiyal scheme; Court hears how dollars were transferred overseas

Bank officials nabbed over US$ 1B Undiyal scheme; Court hears how dollars were transferred overseas

 Search continues for missing sailor at Angulana coast for third day; Vessel recovery also delayed

Search continues for missing sailor at Angulana coast for third day; Vessel recovery also delayed

 “Call an election soon or popularity could fall further” Opposition on Govt.’s falling popularity

“Call an election soon or popularity could fall further” Opposition on Govt.’s falling popularity

Don’t be arrogant. Pay attention to the concerns raised by Chief Prelates” — Sajith tells Govt.

Don’t be arrogant. Pay attention to the concerns raised by Chief Prelates” — Sajith tells Govt.

 Can India and Pakistan find common ground ? - Pakistan High Commissioner in Colombo on Hyde Park

Can India and Pakistan find common ground ? - Pakistan High Commissioner in Colombo on Hyde Park

 Sri Lanka Navy vessel located on seabed off Angulana after hours-long search by specialist divers

Sri Lanka Navy vessel located on seabed off Angulana after hours-long search by specialist divers

 Sri Lanka Entrepreneurs Night 2026 held in Melbourne; Australia-based Lankans urged to invest in SL

Sri Lanka Entrepreneurs Night 2026 held in Melbourne; Australia-based Lankans urged to invest in SL

 Warm weather advisory issued for several districts; Drought ravages farmlands across the county

Warm weather advisory issued for several districts; Drought ravages farmlands across the county

 72-hour detention order issued against drug trafficker Shiran Basik

72-hour detention order issued against drug trafficker Shiran Basik

 Govt plans to push country towards authoritarianism – Opposition Leader

Govt plans to push country towards authoritarianism – Opposition Leader

 Sri Lanka Navy vessel in distress off Angulana; 11 personnel rescued

Sri Lanka Navy vessel in distress off Angulana; 11 personnel rescued

Lassana Flora