India came into conflict with J.R. Jayewardene’s government when it decided to lease the Trincomalee oil tanks to a Singaporean company. Not only J.R.’s administration, but also those of Sri Lanka’s first Prime Minister D.S. Senanayake, followed by Dudley Senanayake, Sir John Kotelawala, and Ranasinghe Premadasa, all sought investment from Western nations to develop the country. The two Bandaranaikes (Mr and Mrs) looked to the then-Soviet Union — now the Russian Federation — for development assistance.
However, successive governments rarely considered aligning with India to develop strategic plans for national growth. Chandrika Kumaratunga, who assumed office in 1994, Mahinda Rajapaksa in 2005, and later Maithripala Sirisena and Gotabaya Rajapaksa all pursued development through either Western nations or China.
Both the right-leaning UNP and left-leaning SLFP governments held high expectations of Japan when it came to developing Sri Lanka. Yet, they were reluctant to engage with Indian investors or enter into agreements with India due to persistent anti-Indian sentiment. Following the declaration of bankruptcy, even the only serious investment offer — Adani’s wind power project — was rejected by Anura Kumara Dissanayake’s government.
According to a recent IMF report, India has now become the fourth largest economy in the world. The world’s fourth largest economy being in such close proximity to Sri Lanka presents a unique opportunity — one never seen before.
Previously, Sri Lanka looked to Japan, the former fourth largest economy, for development support. Now, India has surpassed Japan in global economic rankings.
When India overtook Great Britain in the rankings of the world’s most powerful economies, Sri Lanka failed to recognise the strategic advantage of its neighbour’s rise. However, it is not too late for Sri Lanka to open its eyes, formulate a clear roadmap, and partner with India to move forward and develop the nation.
