How do you look at the bilateral relations with India amid the complex geopolitical environment in the region? And while India puts ‘neighbourhood first’ in its foreign policy, do you also see the relations in a similar way with India?
Certainly, the emphasis is on economic objectives. We have 66 missions abroad and we have told all of them in very clear terms that their priority this year should be economic diplomacy, by which we mean trade, investment and tourism. Our relationship with India is at a very satisfying threshold. In every sector, be it the power sector or tourism sector, there is closer integration. For instance, Ceylon Electricity Board can produce approx. 4,300 MW of electricity, while NTPC, an Indian company, produces about 60,400 MW of electricity. We are also interested in generating wind power in Mannar Island and district, which the Adani group and others in India are keen on developing.
Then if you take the oil, petroleum gas sector, we concluded the Trincomalee oil tank cooperation. We have 99 tanks there which had been lying idle for 17 years. But now that has been sorted out, we have entered into a joint venture where 51 per cent stakes will be held by Ceylon Petroleum Corp (CPC) and 49 per cent by Lanka India Oil Corporation (LIOC). So the storage capacity is very useful. With fluctuating oil prices, we can store oil when the prices are good. And also, since India is the third-largest oil consumer in the world and since Sri Lanka would have to access international markets to purchase oil, it would make sense for us to access international markets through India. There would be price advantage.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Is Leadership Without Hierarchies Possible?
LEADERSHIP IN THE current era is more challenging than ever before.
The Rise and Evolution of Coffee Culture in India
AS A BANGALORE native, South Indian filter ‘Kaapi’ has always been a significant part of our tradition.
The Daily Ground Goes Desi
Success in Tier-2 and Tier-3 cities hinges on several key factors, with one of the most important being the ability to offer high-quality products at an accessible price point
Cracking The Indian Code
TARUN JAIN, CEO of Tim Hortons India believes in creating an experience at cafes by blending global quality, local flavours and affordability
Making Coffee the New Chai in India
Affordable, great-tasting coffee made fast-abCoffee is reshaping how India drinks coffee
Scripting A New Era Of Coffee In India
From a bootstrapped startup to international expansion, NOTHING BEFORE COFFEE is brewing its way to the top by challenging the giants of the coffee industry with innovation, personalisation, and sustainability
"Driven By A Younger Demographic, Coffee Culture Is On The Upswing"
SUNIL D'SOUZA, Managing Director and CEO of Tata Consumer Products, discusses the company's strategic growth in India's booming coffee market, focusing on premiumisation, innovation, and expanding consumer experiences both at home and in cafés, in this exclusive conversation with BW Businessworld's Tarannum Manjul
Fresh Brew, Big Ambitions
From startups to stores, Beanly's Samayesh Khanna and Rahul Jain elevate India's coffee culture by making freshly brewed coffee a daily delight
"On Track To Become India's Top Café Chain"
In an exclusive interview, RAJAT AGRAWAL, CEO of Barista Coffee, shared insights on the company's current market position, expansion strategies, and its response to growing competition
"Ensuring A Seamless Coffee Experience Outside The Cafe Is The Next Big Thing To Watch Out For"
In an exclusive conversation with BW Businessworld's Resham Suhail, Third Wave Coffee CEO RAJAT LUTHRA and its Co-founder AYUSH BATHWAL delve on how they are navigating the competitive landscape, going beyond retail and tapping changing consumer preferences