By TON Research Desk

Sri Lanka had always been a non-aligned and peace loving country. Sri Lanka based its economic model on China. However, India is also trying to out China from Sri Lanka. India is also developing country and facing acute poverty, however, New Delhi is actively increasing Colombo's debts in the name of financial help to Sri Lanka. In fact these aids, grants, line of credits and loans are extended by United States and some other countries through India against Chinese, Russian and Islamic presence in South Asia. In fact, India has become a front man of Western players to make Asian countries debt ridden leading to smooth compromise of national integrity and sovereignty. There is no doubt, India is indirectly responsible for the current economic crisis of Sri Lanka.

India's total development portfolio in Sri Lanka is more than $3.5 billion, of which only $550 million are grant projects. The supply of Full AC Diesel Multiple Units (AC DMUs) by India is just one of the many railway projects undertaken by India in Sri Lanka. There are also other ongoing projects, which include supply of passenger coaches by RITES under an Indian Line of Credit. RITES has already supplied 120 of the 160 coaches under this project. In fact, everything in these projects are purchased and acquired from India thus it will give little benefit to Sri Lanka in short terms. The Indian Housing Project, with an initial commitment to build 50,000 houses in war affected areas for estate workers in the plantation areas is aimed to bring demographic change and keep Sri Lanka always under New Delhi's thumb. The fact cannot be denied that Tamil issue was never a Sri Lankan issue as Tamils were demanding a separate state in India and not in Sri Lanka but the British policy was followed and own people who could join main stream politics were eliminated and generally all the expenditure for maintaining Sri Lankan forces were to be borne by Sri Lanka.

If we recall, Export Import Bank of India (Exim Bank) has clarified that there is no overdue payment from the Sri Lankan government after Sri Lanka cleared all the pending amount on last repayment on 31 March 2022 . Which means that in this difficult time New Delhi forced Colombo to clear all its dues.We need to understand that Indian Exim Bank extended lines of credit (LOCs) , at the behest of the government of India to Sri Lanka on the condition that Colombo will import developmental and infrastructure projects, equipment, goods and services from India. As per authentic reports, Export Import Bank of India has extended LOCs worth more than USD 1.3 billion to the Sri Lankan government. Till June 2022, India, extended total value to $2.73 billion lines of credit to Sri Lanka.

India has again extended Line of Credit worth $1 billion through State Bank of India that would enable Colombo in procuring food, medicines and other essential items from India to overcome its acute economic crisis. Some time back the Indian Ministry of External Affairs, India remained the champion of as supplier of COVID Vaccine "Maitri" to 100 countries amounting 2324.389 Lac items including 12.640 lac to Sri Lanka. However, this is just the tip of iceberg as Sri Lanka paid huge amount to India with regard to COVID testing kits and vaccine. In another development, India is planning to sell Sri Lanka Alappuzha NIV with testing kits and later Monkeypox vaccine, whereas till now not a single case of Monkeypox. There are reports of attempts immigrate positive Monkeypox cases to Sri Lanka and the viruses to introduce new disease there.

It is high time that Sri Lankan neighbours and international players must change their policies towards Sri Lanka. The sovereignty and national integrity of Sri Lanka is most vital. All nations must help help Sri Lanka to come out of present economic crisis so as it can contribute for peace and development in the region.