Mr. Heshana Kuruppu, President of CA Sri Lanka,
Chairman of the Organizing Committee of the 45th National Conference,
Distinguished Past Presidents, Members of CA Sri Lanka,
Esteemed Friends, Ladies, and Gentlemen,
Good evening, Ayubowan, Namaskar, Vanakkam.
I am delighted and honoured to address the 45th National Conference of the Institute of Chartered Accountants of Sri Lanka. It’s a privilege to receive this invitation and be among such esteemed professionals driving change in Sri Lanka.
It’s a pleasure to be part of this prestigious gathering, the largest annual business event in the country. Your invitation to the Indian High Commissioner reflects Sri Lanka’s natural interest in India, your closest neighbour, and perhaps a growing desire to explore the benefits of India’s growth story. If this is the case, it is a legitimate and shared aspiration. We must work together, for our nations are bound not just by geography and history, but by a common future.
We are inextricably linked, and any attempt to divide us would harm both nations equally. Let us move beyond old mindsets and past hesitations, and work together actively towards our shared goals and aspirations.
I have been asked to discuss global trends, India’s role, and the opportunities for Sri Lanka in India’s growth, as well as our bilateral potential. These are vast topics, but I will do my best to address them.
The world is undergoing unprecedented change. Recently, India’s External Affairs Minister, Dr. S. Jaishankar, identified three major global trends: Rebalancing, Multipolarity, and Plurilateralism.
Rebalancing signifies the shift of economic and strategic power from the Atlantic to the Indo-Pacific region, which is now the epicenter of global growth. Within the G20, the rise of Indo-Pacific economies, including India, is significant. India, as the fastest-growing major economy, is expected to continue this high growth trajectory and emerge as one of the largest economies by 2050.
Sri Lanka, as India’s closest maritime neighbour, has an incredible opportunity to connect with India’s growth engine and rebuild its own prosperity.
This global rebalancing is leading to a multipolar world where countries like India are becoming key centres of decision-making. Traditional global institutions such as the UN and WTO are struggling to adapt, prompting countries to form smaller, regional alliances like BIMSTEC, BRICS, and the Colombo Security Conclave, in which Sri Lanka plays an active role alongside India.
Technology is another key determinant of global power. India is at the forefront of this disruption, with advancements in fields such as digital technologies, semiconductors, and space exploration. The growing use of technology presents an opportunity for Sri Lanka, not only to deepen its economic ties with India but to benefit from India’s leadership in the digital domain.
India’s relationship with Sri Lanka is shaped by our Neighbourhood First policy and the SAGAR vision, prioritizing Sri Lanka’s development through investments, grants, and mutual cooperation. India remains Sri Lanka’s largest trading partner and source of investment. As Sri Lanka recovers economically, there is immense potential for deeper economic partnerships, particularly in areas like infrastructure, energy, and digital transformation.
In conclusion, our nations’ futures are intertwined. By working together, we can achieve great things. I extend my sincere thanks to CA Sri Lanka for inviting me to share my thoughts, and I wish you all success in your endeavours.
Thank you.
