India sends one more consignment of 40,000 MT of diesel to Sri Lanka
Colombo, Apr 21: India on Thursday said it has delivered one more consignment of 40,000 MT of diesel to Sri Lanka under the Indian credit line to help ease the acute power crisis in the island nation.
A total of close to 400,000 MT of various types of fuel have been delivered with Indian assistance in two months, the Indian High Commission said here.
The High Commission said that 40,000 MT of diesel under the Indian credit line reached Sri Lanka on Wednesday.
Earlier, India delivered 40,000 MT of diesel to Sri Lanka on April 2. This was India's fourth consignment of fuel delivered to Sri Lanka under the Line of Credit.
India and Sri Lanka signed a USD 500 million Line of Credit Agreement for purchase of petroleum products on February 2, 2022.
With the economic crisis and the shortage of forex, the Indian credit line of USD 500 million for fuel imports has provided a lifeline to the island nation, which is currently experiencing its worst economic crisis in history. With long lines for fuel, cooking gas, essentials in short supply and long hours of power cuts, the public has been suffering for months.
India recently announced to extend a USD 1 billion line of credit to Sri Lanka as part of its financial assistance to the country to deal with the economic crisis following the previous USD 500 billion line of credit in February to help it purchase petroleum products.
The Indian fuel came as the protests over fuel shortages intensified throughout the country.
The Sri Lankan government on Thursday deployed troops as a precautionary measure in the southwestern region of Rambukkana where one person was killed and 13 others were injured in violence after the police opened fire at unarmed anti-government protestors demonstrating against the latest fuel price hike.
The island nation is witnessing large-scale protests against the government's handling of the debt-ridden economy - the worst-ever economic crisis in the country's history.
Protests demanding the resignation of President Gotabaya Rajapaksa and his Sri Lanka Podujana (Peramuna)-led government have intensified as shortages continued and prices soared.
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India & Israel elevate ties to special strategic partnership, vow to soon conclude free trade deal
Jerusalem (PTI): India and Israel on Thursday elevated their "time-tested" relationship to a special strategic partnership and agreed to soon firm up a "mutually beneficial" free trade deal even as Prime Minister Narendra Modi strongly backed the Gaza peace initiative, asserting that humanity must never become a victim of conflict.
Following talks between Modi and his Israeli counterpart Benjamin Netanyahu, the two sides inked a plethora of agreements to expand cooperation in areas of trade, agriculture, energy, cyberspace and digital payment.
India and Israel also vowed to expand their already close defence partnership by working towards joint development and joint production of military hardware under the framework of the transfer of technologies.
In his media statement, Modi said India's security interest is linked to peace and stability in the Middle East, adding that New Delhi fully supports the Gaza Peace Initiative.
"India's stance is clear: humanity must never become a victim of conflict. A path to peace has been created through the Gaza Peace Plan. India has fully supported these efforts," he said.
"In the future as well, we will continue dialogue and cooperation with all countries," he said.
PM Modi landed in Israel on Wednesday on a two-day visit. It is his second visit to Israel in nine years.
In his remarks, the prime minister said India and Israel have a united view that there is no place for terrorism in the world and both sides stand shoulder-to-shoulder in countering terrorism and its supporters.
"Our relationship is founded on the strong bedrock of deep trust, shared democratic values, and human sensitivities. Our bond has stood the test of every trial of time," he said.
"Today, we have taken the historic decision to elevate our time-tested partnership to the status of a 'Special Strategic Partnership'," he said.
The prime minister also announced the establishment of an India-Israel critical and emerging technologies partnership to impart a new momentum for cooperation in areas of artificial intelligence, quantum, and critical minerals. "I am pleased that an agreement has been reached for the use of UPI in Israel," he said.
The prime minister, referring to the threat of terrorism, said India and Israel will continue to confront the menace unitedly.
"India and Israel are completely clear that there is no place for terrorism in the world. In any form, in any expression, terrorism cannot be accepted," he said.
"We have stood shoulder-to-shoulder in opposing terrorism and its supporters, and we will continue to do so," he added.
India and Israel also discussed the implementation of the India-Middle East Europe Economic Corridor (IMEC) and cooperation under the framework of I2U2 (India-Israel-UAE-USA).
