PM Modi and PM Wickremesinghe jointly address the media
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India, Sri Lanka welcome significant developments in bilateral relations
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India and Sri Lanka have a huge stake in each other’s success and in stability and development in our region: PM Modi
This is a relationship that touches the hearts of ordinary Indians and Sri Lankans: PM Modi

Your Excellency Prime Minister Ranil Wickremesinghe, 

Members of the media,

I am delighted to extend a warm welcome to you, and Prof. Maithree Wickremesinghe, and members of your delegation.

Let me congratulate you once again for leading the United National Front for Good Governance alliance to victory in last month's parliamentary elections.

We are deeply honoured that you have chosen India as your first overseas destination. It is a happy coincidence that your last full term as Sri Lanka’s Prime Minister coincided with the first NDA Government.

We thank you for your belief in and steadfast support for India-Sri Lanka relations. You are a deeply valued friend, whose vision for Sri Lanka’s progress and commitment to its pursuit is greatly admired in India.

This is a historic year for India-Sri Lanka relations, as it is for Sri Lanka. We had the honour of hosting President Sirisena on his maiden visit abroad in February. I had the privilege of an extraordinary visit to Sri Lanka in March. Now, we have Prime Minister Wickremesinghe here.

Sri Lanka has voted twice this year for change, reforms, reconciliation and progress. There can be no stronger statement of Sri Lanka’s democratic tradition. There can be no clearer sign of Sri Lanka’s march towards a peaceful, inclusive, and prosperous future.

As a close neighbour and friend, we wish Sri Lanka every success; rejoice in your progress; and, assure you of India’s unwavering support.

So, we are pleased that the Government of Sri Lanka has taken a number of significant steps in recent times. The leadership has shown remarkable political unity, at a time of great hope.

I am confident that with the wisdom and will of the leadership in Sri Lanka and the support of the people, Sri Lanka will achieve genuine reconciliation and development, so that all Sri Lankans, including the Sri Lankan Tamil community, can live a life of equality, justice, peace and dignity in a united Sri Lanka.

Your progress is important for our two countries, South Asia and our maritime region.

Prime Minister and I had excellent discussions today.

We welcomed some significant developments in bilateral relations since March, including the currency swap arrangement. We also expressed hope that progress on key bilateral initiatives and projects will gather speed now.



We both want deeper economic engagement. We would like to see our trade grow and become more balanced for Sri Lanka. We discussed how we can achieve these goals in a more open and competitive Indian market, including through bilateral arrangements for trade and investments.

I also sought his support for Indian investors, who are keen to participate in Sri Lanka’s economic development, especially in infrastructure, energy and transport sectors.

I offered India’s full support to strengthen connectivity between our two countries to deepen human and economic links that will benefit all sections of our societies.

I assured Prime Minister Wickremesinghe of continuing commitment to our development partnership - in infrastructure, railways, energy, community development projects, agriculture, capacity building, science and technology, space and civil nuclear field.

We will continue to nurture people-to-people ties. We just finished an absorbing test series. We shall all miss the great Kumar Sangakkara on the cricket field.

We recognise our closely aligned security interests and the need to remain sensitive to each other’s concerns. We both reaffirmed our commitment to deepen our defence and security cooperation.

We will intensify cooperation in combating terrorism and work together for security and stability in our maritime neighbourhood. Sri Lanka is our largest partner in defence training programme and we will continue to expand our cooperation in this area.

Prime Minister and I also discussed the fishermen issue. We agreed that fishermen's associations on both sides should continue their efforts to find a solution.

I conveyed to him that this should be seen as a humanitarian issue that affects livelihoods. I informed him of the steps we are taking to encourage Indian fishermen to take up deep sea fishing.



In conclusion, let me say that India and Sri Lanka have a huge stake in each other’s success, and in stability and development in our region.

This is a relationship that touches the hearts of ordinary Indians and Sri Lankans. It is also of great strategic importance to our two countries. With President Sirisena and Prime Minister Wickremesinghe, we can look to the future with great optimism.

Thank you.

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India's Strategic Ascent
May 24, 2026

The global balance of power is no longer centred on the Atlantic world. As economic growth, strategic influence, and geopolitical attention shift toward the Indo-Pacific, India has emerged as one of the principal forces shaping this transition. Since 2014, sustained economic expansion, growing state capacity, technological advancement, and strategic autonomy have enabled India to move from the margins of the global order to a position of increasing influence within it.
A Global power rebalancing has been underway, shifting economic, mi\NKNJYK Y U Y YYY YYYYYYYYYYYHNCXXXK8P.9.; litary, and strategic power from the Atlantic to the Indo-Pacific with the rise of Asian powers (colloquially termed 'Westlessness'). At its centre is the long-term economic growth spearheaded by India. The nation, once ridiculed as a developing country struggling with poverty and insecurity in the twentieth century and among the fragile five economies until 2013, is now the world's most vibrant economy and military power. India's diplomatic rise and tech prowess have fundamentally altered perceptions of global hierarchy. Since 2014, growth, state capacity, and external engagement have aligned, allowing India to reposition itself in the global system, and shift of power from the Atlantic to the Indo-Pacific
For a long time after the Cold War, Westerners explained global power as the United States as the primary power, China as the challenger, Russia as a disruptive force, and the European Union as an economic and regulatory centre. That structure is now obsolete and insufficient. India's rise has introduced a new variable that does not fit into such classifications.
Across sectors such as geopolitics, economic policy, technology, defence preparedness, demographic advantage, and diplomacy, India is being assessed as a country that can influence outcomes. Policymakers in Washington, Brussels, Beijing and Moscow are adjusting to this reality in their own ways.
India is one of the top five to six world economies in nominal terms and the third-largest in purchasing power parity. What distinguishes India today is not only its size but also the pace of its expansion.
Indian economic growth rates have been resilient, remaining in the 6–7% range (despite a pandemic-induced economic crisis, the War in Ukraine, and the conflict in West Asia), even as other major economies have faced slowdowns or stagnation.
This performance is supported by structural changes that have taken shape since 2014. The Modi government has emphasized infrastructure development across roads, ports, and logistics networks. Digital systems have formalized large parts of the Indian economy through tax reform and real-time payments. Domestic demand has remained a key driver, reducing India's excessive dependence on exports. At the same time, initiatives such as "Make in India" have aimed to expand manufacturing capacity.
For developed economies and businesses abroad, while earlier India was perceived as a destination for services or a consumption market, it is now being approached as a long-term economic partner and, in some sectors, as a stabilizing alternative to concentrated supply chains.

 Economic Power, Technology, and India’s Expanding Global Influence

India's technological profile has also changed significantly. The development of large-scale digital public infrastructure, such as Aadhaar for identity and UPI for payments, has created systems that operate at a population scale and are now exported to the rest of the World as India's contribution to the global public good. Beyond this, India continues to maintain strength in software services while expanding into areas such as artificial intelligence, semiconductor design, and space applications. The Indian Space Research Organisation has demonstrated impeccable and cost-effective mission capability, for instance, in Lunar and Mars missions. In pharmaceuticals and biotechnology, India is a major global supplier. It is the largest global supplier of generic medicines, accounting for around 20 per cent of global supply. The Modi Government's development model is one in which public digital systems and private innovation operate together rather than in isolation, and has boosted investor confidence in India. Over the last eleven financial years (2014–25), India has attracted FDI worth USD 748.78 billion.
India's defence profile has also evolved after 2014. It is among the top military spenders globally and maintains large, operationally active armed forces. It possesses nuclear capability, a functioning blue-water navy, and growing indigenous defence production. Additionally, since 2014, there has been an emphasis on reducing import dependence in defence equipment. The induction of domestically built aircraft carriers and submarines is part of the Modi Government's effort. Deterrence and control over vital maritime routes in the Indian Ocean define India's military posture today. India's geographic position places it close to major sea lanes linking Europe, West Asia, Africa and East Asia. It has acquired greater importance as tensions have increased in West Asia, the South China Sea, and the Taiwan Strait. But unlike the traditional power, New Delhi's focus has been on protecting trade flows rather than projecting force beyond immediate strategic interests.
Through groupings such as BRICS, Quad, SCO, and G20, India has taken on the role of a balancing actor. It has avoided formal alliance structures while remaining engaged in cooperative frameworks. For strategic policymakers across the world, who are now more attentive to the Indo-Pacific, India has moved from the margins of strategic thinking to a central position.

Strategic Autonomy and India’s Role in the Indo-Pacific Order

India's foreign policy today has a strong tinge of strategic autonomy. It maintains working relations with multiple power centres, the United States and its partners, Russia, the European Union and countries across the Global South. Even amid disagreements, New Delhi has ensured that channels of engagement remain open for India.
Prime Minister Narendra Modi has demonstrated India's ability to convene diverse countries and achieve workable outcomes during India's presidency of the G20. It also ensured that the concerns of developing countries were included in discussions without disrupting dialogue with advanced economies. This ability to operate across divides has increased India's relevance in multilateral settings.
But India's influence is not limited to state policy. As the world's largest democracy, it carries significant political credibility in many regions. India's cultural exports, that is, cinema, cuisine, and education. and a large diaspora contributes to its global presence. Prime Minister Modi has leveraged the Indian diaspora to strengthen economic and institutional connections in the United States, Europe, the Gulf, and parts of Africa. These networks function alongside formal diplomacy and reinforce it.
India's rise does not follow the trajectory of other countries in the Indo-Pacific. Democratic processes, federal structures and a mix of public and private initiative shape it. It slows decision-making in some areas, but it also builds resilience and adaptability.
Therefore, in a changing position in the global system. India can no longer be described only as an "emerging" economy. In terms of scale, capability and sustained growth, it has moved into a category where it influences how the system functions. Its rise does not displace other major powers, but it alters the balance among them. The shift in global power that began after 2008 has become more defined over the past decade. Since 2014, the Modi government has provided continuity in economic policy, external engagement and state capacity, allowing India to convert potential into influence.