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India, Sri Lanka boost ties with currency swap

In bid to counter China's influence Modi also signs deals on power plant, railways
Saturday, March 14, 2015 - 05:50
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SEEKING NEW OPPORTUNITIES: Mr Modi and Mr Sirisena at the Presidential Secretariat in Colombo on Friday. 'Sri Lanka is venturing into a new chapter in relations with India,' said the Sri Lankan leader.

Colombo

ON the first trip to Sri Lanka by an Indian leader since the 1980s, Prime Minister Narendra Modi agreed to strengthen financial ties and build up the island's infrastructure as he looks to counter China's influence.

Central banks from both countries agreed to a US$1.5