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The authors convincingly analyse the bewildering diversity, size and scale of the challenges of South Asia in a volume that is a rare treasure for those interested in deciphering the history, ethnic identities, colonial legacy, political economy, environmental risks, and geopolitical dynamics of the region.
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Asian nations like Sri Lanka have seen a rush of Russian and Ukrainian tourists over the last two years. They discover salubrious climes and overstay their visas to start small businesses. It has helped Sri Lanka boost tourism after its 2022 debt default but also created economic problems for locals. It is necessary to identify trade-offs between economic benefits and security threats associated with extended-stay tourism.
Courtesy: Reuters
Sri Lanka has demonstrated signs of recovery following the stabilising policies implemented by the Wickremesinghe government. However, the road ahead for economic recovery is long, with risks associated with the upcoming Presidential elections, geopolitical tensions and debt restructuring.
Courtesy: VivaLanka
At the COP28, Sri Lanka’s President Ranil Wickremesinghe stated the need for $12 billion in FDI for renewable energy sources by 2030 to fulfill the country’s climate commitment. For that funding to yield benefits and translate into long-term growth, Sri Lanka must now work hard to enhance its overall business environment and revisit its foreign investment strategy to focus on renewable energy and manufacturing.
Courtesy: The Wire
The more India enjoys cooperative relations with its neighbours, the greater its ability to exert influence in the world. Meanwhile, neighbours looking at India with a reasonable mindset may internalise that cooperating with the world’s fifth largest economy is clearly in their interest.
Courtesy: Le Monde
A stabilising economy in Sri Lanka has eased inflationary pressures and foreign exchange liquidity crises in the past year. As economic recovery steps up, Sri Lanka has also sought free trade agreement-led Asian regionalism. However, with presidential and parliamentary elections scheduled for 2024 and an opposition that wants to renegotiate the IMF agreement, A lasting economic recovery may be derailed by political risks.
Courtesy: Verité Research
The Sri Lankan economic crisis was the result of years of weak fiscal performance and lack of consistent development strategies. While economic recovery has picked up pace, addressing macroeconomics issues and implementing structural reforms to promote inclusive and sustainable growth is the key to its success
Courtesy: The Wire
India and Sri Lanka recently signed six energy agreements, including plans for an oil pipeline from India to Sri Lanka, electricity grid connectivity, and cooperation in renewable energy. Sri Lanka can benefit from India's cost-effective oil sourcing and processing and pay for it in rupees, easing its balance of payments crisis. Its wider use of the Rupee fulfills a long term objective for Indian policymakers.
Courtesy: Business World
The Sri Lankan economy is showing signs of stabilizing after experiencing the worst contraction in its history in 2022. Decisive policies by President Ranil Wickremasinghe, timely Indian aid, and an IMF Programme have laid the groundwork for a return to growth. India and Sri Lanka must now shift from an aid relationship to one which deepens bilateral trade and investment flows.
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Agriculture has been integral to India’s food security and employment. While salient policies are in place, India has yet to achieve its food security and farmer-income goals. Artificial Intelligence (AI) offers innovative solutions for the agriculture sector. AI technologies will help India take the necessary leap forward to enhance agriculture productivity, farmer income and food security.