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India, Sri Lanka finalise four-point package for economic cooperation

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India, Sri Lanka finalise four-point package for economic cooperation

India and Sri Lanka have formulated a four-point plan, including credit lines and currency swap arrangements for food and drug imports, to deepen economic cooperation and help the island country cope with economic problems.

The package was finalized at two meetings between Sri Lanka’s Finance Minister Basil Rajapaksa, India’s Finance Minister Nirmala Sitharaman, and Foreign Minister S Jaishankar, who visited on Wednesday and Thursday.

This is Rajapaksa’s first visit since he took office in July.

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In a statement issued by the Sri Lanka High Commission at the end of Rajapaksa’s visit on Thursday, the two sides discussed the four pillars of short- and medium-term cooperation.

These include an emergency food and health and safety package plan, which envisages India to expand credit lines to cover Sri Lanka’s imports of food, medicine and other necessities. The energy security package will include credit lines that include imports of fuel from India, and the Trincomalee oil depot. Early modernization. The package also includes the provision of currency swaps to help Sri Lanka solve the current balance of payments problems, and to promote India’s investment in different sectors in Sri Lanka. The statement stated that it will contribute to the promotion of growth and employment expansion. The two parties further agreed that the way to realize this plan would be “finalized as soon as possible within a mutually agreed timetable,” the statement said.

Rajapaksa and Sitharaman and Jaishankar “agreed to open a direct communication channel” and have direct and regular contact with each other to coordinate this initiative.

People familiar with the matter said on the condition of anonymity that both Sitharaman and Jaishankar participated in two rounds of discussions with Rajapaksa, which was of great significance. They said this reflects the importance that India attaches to its relations with Sri Lanka.

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People familiar with the matter said that Sri Lanka’s first US$1 billion bilateral currency swap request in 2020 did not appear in recent discussions. The currency swap provided to Sri Lanka is expected to be carried out under the South Asian Association for Regional Cooperation (Saarc) mechanism and is worth 400 million U.S. dollars.

The relationship between New Delhi and Colombo took a hit earlier this year when Sri Lanka cancelled the 2019 agreement with India and Japan to operate the East Container Terminal at the port of Colombo, angering the two countries.

In October, the state-owned Sri Lanka Port Authority (SLPA) signed an agreement with the Adani Group of India to develop and operate the western container terminal at the Port of Colombo.

Adani Group and its local partner, John Keells Holdings, will jointly own 85% of the Western Container Terminal, giving India a much-needed strategic presence in the Port of Colombo, where nearly 70% of its business involves cargo destined for India.

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News Source : Hindustan Times

Tollywood

HT Rewind 2024: Teja Sajja says HanuMan kicking off the year in style is the moment he’d been ‘waiting for’ | Exclusive

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HT Rewind 2024: Teja Sajja says HanuMan kicking off the year in style is the moment he’d been ‘waiting for’ | Exclusive

In conversation with Hindustan Times, Teja Sajja decodes the success of HanuMan and other Telugu films, talks about his upcoming projects, and more.
When Prasanth Varma’s superhero film HanuMan, starring Teja Sajja, was announced to be released alongside big films like Mahesh Babu’s Guntur Kaaram, Venkatesh’s Saindhav and Nagarjuna’s Naa Saami Ranga in January this year, no one expected the underdog to emerge on top. And yet, the film, made on a budget of under ₹50 crore, managed to collect over ₹300 crore at the box office worldwide in 25 days, becoming one of the highest-grossing Indian films for the year. (Also Read: Ranveer Singh met HanuMan actor Teja Sajja, complimented him even after his Prasanth Varma film Rakshas got shelved)

Ask Teja about the moment he realised his film had not just fought against the tide but also risen to the top; he tells Hindustan Times in an exclusive conversation, “Since I returned to acting (as a lead actor after being a child artiste since 1998), this is the moment I’ve been waiting for. When everything from the HanuMan teaser to the songs was grabbing attention, we knew we had hit a gold mine. But I don’t think we imagined it would cross the ₹300 crore threshold. We were so satisfied with the opening numbers; everything else was a bonus.”

‘Success has given me fear of disappointing people’

Teja acted in Zombie Reddy, Ishq and Adbhutham before HanuMan, but they are what you would call ‘critical successes’, adding to his repertoire as an actor who can perform. But things have changed for him now, says Teja, who is being picky about the roles he says yes to. “Success either makes you overconfident or gives you the fear of disappointing people; I have the latter,” he explains.

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Teja admits he wants to chart out his career in Hrithik Roshan’s footsteps, but not in the way you think. “I have such a fondness for Hrithik due to Koi Mil Gaya and Krrish. No matter how well he performed after that, these left a lasting impression on me; I’m sure 90s kids will agree,” he says, adding, “Similarly, I’ve realised that I have an audience in children now. I want to be conscious of that when I pick roles. I want to make films families can enjoy together.”

But despite people in places like Mumbai or Delhi recognising him, Teja says he’s clear that he wants to cater to the Telugu audience first. “I am conscious that I am making films for my playground – the Telugu states. This is the sensibility I have grown up with, and I don’t know if I can cater to everyone else. Will I promote my films in other languages? Sure. But I also can’t be part of films that aren’t authentic to what I know or understand,” he explains.

‘Rootedness has put us on the world map’

And authenticity seems to be the need of the hour. Be it Baahubali and RRR or the recently released Pushpa 2: The Rule, Kalki 2898 AD and Devara: Part 1, certain kind of stories seem to be finding success. “Rootedness and going local is proving to be such a boon for us, be it in Devara or Pushpa or HanuMan. Kalki 2898 AD was our version of a Hollywood film (the sci-fi concept) with actors from across languages in predominant roles; it put us on the world map,” reflects Teja.

However, the actor admits Tollywood went through a phase of Bollywood-inspired rom-coms and family dramas that worked in their favour for a while. “That wasn’t easy to replicate either, but it’s just that these local stories are what the audience seems most interested in now. It can’t just be chalked up to religion, too. It’s about the morals these films are hinged on, the fighting for righteousness, and how an underdog can find their strength. Introducing Mahabharata or Ramayana to a new audience in a cool way is just a perk,” he says.

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And it’s this rootedness that Teja says his next films, Mirai and Jai Hanuman (the sequel to HanuMan), will also have ample of. “Mirai is also a superhero film that caters to kids, but it’s not an origin story like HanuMan. It has a pan-Asian and Buddhist touch because the story is based on King Ashoka’s ideologies. I hope that I will get to deliver something new to the audience again. I will only feel like I’ve arrived if Mirai is equally, if not more, successful,” says Teja.

Rishab Shetty will headline Jai Hanuman, but Teja also looks forward to shooting that. “I can’t wait to be on that set; it’ll be exciting. Now that we know India is ready to watch our films, I want to step it up. I want to shift gears and shoot for at least two films in 2025,” he says. As for what he will do next, Teja says he wants to up the ante. “When I got a SIIMA award for Zombie Reddy as a debutant, I remember telling Prasanth this would be the last award I get. But now that I won a Radio City Cine Award for Best Actor, I hope more awards will follow,” he signs off cheekily.

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