India is poised to become the third-largest economy in the world by the end of this decade, according to the Indian High Commissioner to Sri Lanka, Santosh Jha. Speaking at the 45th National Conference of the Institute of Chartered Accountants of Sri Lanka, Jha highlighted India’s rapid economic growth and its potential to emerge as the second-largest economy by 2050.
Addressing the largest annual business gathering in Sri Lanka, Jha emphasized the close ties between India and Sri Lanka, calling for stronger bilateral cooperation to tap into India’s growth. He underscored the importance of both nations working together for mutual prosperity, stating, “We are irreplaceable, indispensable, and inextricable as partners.”
Jha discussed major global trends such as the shift of economic power from the Atlantic to the Indo-Pacific and the rise of the G20 as a key decision-making group. He also highlighted the disruptions caused by COVID-19, conflicts, and climate change, which have reshaped globalization and supply chains, creating new opportunities for India.
India’s advancements in technology, particularly in digital infrastructure, offer promising avenues for collaboration, he said. He encouraged Sri Lanka to leverage India’s growth, especially in areas like manufacturing, technology, and services.
The High Commissioner also reiterated India’s commitment to supporting Sri Lanka’s economic recovery through investment, development projects, and grants, including joint ventures in sectors like petroleum, tourism, and infrastructure.
Jha concluded by reaffirming India’s desire to work closely with Sri Lanka for shared prosperity, saying, “Our relationship is a role model for neighborly friendship in the region.”
