INDIA-SRI LANKA TRADE
India has surpassed China to become Sri Lanka's largest bilateral lender. In the first four months of 2022, India has given the island nation loans totalling 968 million US dollars.
China has been Sri Lanka's largest bilateral loan over the course of the last five years, from 2017 to 2021.
The Asian Development Bank (ADB) disbursed grants totaling 610 million dollars in 2021, making it the largest multilateral lender during the previous five years.
Ruchira Kamboj, India's Permanent Representative to the UN, claimed that India had sent Sri Lanka relief in the form of food and money totaling close to $4 billion. India delivered 21,000 tonnes of fertiliser to a crisis-ridden Sri Lanka on August 22.
India has been in the forefront of providing Sri Lanka with economic aid in accordance with their needs and is one of the nations that has given the most aid during a time of need. Sri Lanka has been going through a worsening economic crisis since the start of 2022, and the government has stopped paying back its international creditors.
Numerous Sri Lankans are suffering from food and fuel shortages as a result of the country's severe economic crisis.