India’s neighboring country has gone into complete political and economic chaos amid large Srilankan protests. The crisis in Sri Lanka is an issue of bug concern for India as it shares vital ties with the country. Also, the geo-strategic location makes it important for India’s trade and security.
On Wednesday, after the massive protests on the streets of Colombo, the authorities imposed a state of emergency. This longtime instability is not good for Sri Lanka as well as India. The civilization links and less distance between the two countries make them vital to each other. In this turmoil, India must ensure this does not allow major global powers to use this to their benefit.
Political anarchy and Srilankan Protests
The Rajapaksa clan that had its members in the highest positions of the country is not in power. They had a tilt toward China that was a threat to India’s security. But, the political gap in Colombo is a major cause of concern. If the living conditions continue to deteriorate, India might have to deal with a wave of refugees on its borders.
This political gap can delay the negotiations and discussions of Sri Lanka with the International Monetary Fund. The country is trying to seek a $3 billion bailout package. The delay could further add to the economic collapse of the nation. As even India cannot go on offering financial stability for long.
Buildup over months
This situation is not a sudden incident, but rather a buildup going on for months now. No one thought that Gotabaya Rajapaksa’s reign would end like this. He left the presidential residence on July 9. Later, he went to the Maldives and then Singapore. The public is agitated about him leaving the country.
An important reason for this problem is the crippling of the tourism industry since the Pandemic. It has a major impact on foreign reserves in the country. Also, the government’s decision on fertilizers was a reason for the reduced harvest. Lastly, the slashed taxes was another blow.
President Gotabaya came into power in 2019 and made several promises on national security. It was particularly a sensitive time after the Easter bombings. During this time his ‘strongman’ image was in his favor.Â
Images of the Srilankan protests have gone viral
The world has seen videos and pictures of protesters in the Presidential residence bathing in the pool, lying on the beds, and working out in the gym. All these places were only for the President and his family.
These images are proof of severe discontent among the masses against the government that couldn’t handle the economic situation. The people are struggling with inflation, food crisis, and fuel shortage. India has been helping Sri Lanka but made it clear that it is not sending Troops into the island nation. Nor did India give any help to its president to flee.Â
It will take time to form new government
After the massive protests, President Gotabaya Rajapaksa resigned. Also, Prime Minister Ranil Wickremesinghe gave his resignation. But, he has become the acting President till a new one is elected. India has hope that the opposition can make an initiative and form an interim all-party government now quickly.Â
The process of formation of a government has various challenges that can take some time to complete. Also, there are differences in the political parties over the situation and a massive public outrage. Another option can be fresh elections but that will be a time-consuming and expensive alternative.
India’s helping hand
India is a firm believer in ‘Neighbourhood First’. Also, Sri Lanka has important strategic ties with India. The latter has given $3.8 billion worth of support to the island nation. India has stepped up to give fuel, food, and lines of credit to the neighboring country. Also, medicines, medical supplies, and other humanitarian supplies have been sent. Sri Lanka has been facing its worst ever economic crisis since its independence in 1948.Â
Some Srilankan flights have been refueling at Indian airports and India has given a credit line of 44,000 MT urea to help its farmers and food security.
Summing up,
This is the time for India to step up and help Sri Lanka in it’s political and economic crisis. But, just help by India isn’t sufficient. India is stressing deep economic ties between the two nations and has increased its efforts two-fold for Sri Lanka. However, quick economic and political stability is vital to reduce the suffering of the Sri Lankan people.
