New Delhi, Nov 4 (PTI) Sri Lanka is facing "enormous challenges" and thus the island nation's relationship with India should be devoid of "parochial thinking", said its Leader of Opposition Sajith Premadasa on Tuesday, while asserting that "we need to think anew and think afar".

Addressing a gathering at the Indian Council of World Affairs (ICWA) here, he also said Sri Lanka at all times will work towards ensuring the national security interests of India, a "superpower that should have its rightful place in the United Nations Security Council as a permanent member".

Premadasa emphasised that it is "our sincere belief" that the Sri Lanka-India relationship should be seen as "an opportunity and not as a threat".

It is an opportunity to attain mutual benefit, to attain prosperity, an opportunity to establish connectivities at all levels that accrue competitive advantages for both our countries, he said.

"At a time when Sri Lanka is facing a plethora of challenges, challenges that are economic, social, political, cultural, and religious, it is indispensable that our relationship with India functions in a manner that facilitates Sri Lanka extricating itself from its present quagmire," Premadasa said.

He underlined that Sri Lanka has undergone "triple tragedies" in recent times -- the Easter Sunday terror attack, the Covid health disaster, and bankruptcy due to "ill-advised economic policies".

"These triple tragedies have led to immense suffering and stress, and created new levels of poverty, which approaches approximately 40 per cent of our population," the island nation's Leader of Opposition said.

They suffer from "consumption poverty, savings poverty, investment poverty; poverty in all its facets," he said.

"At a time when Sri Lanka is facing these enormous challenges, the Indo-Sri Lanka relationship should be devoid of parochial thinking. We need to think anew and we need to think afar," Premadasa said.

The Sri Lanka-India relationship should be "results-based, and evidence-based", and ensure that both the nations are able to "work together" in the technology arena, and in the investment field, he said.

Premadasa said it should be ensured that the two countries work together on championing and promoting South-South cooperation, promoting green energy, and have a combined effort to have integrated poverty alleviation programmes, an issue that is facing both countries.

"Ensure once again that the micro, small and medium-sized enterprises and businesses are rejuvenated and reinvigorated so that they become engines of economic growth," Premadasa said.

He asserted that Sri Lanka "at all times will work towards ensuring the national security interests of India -- a global power, a superpower that should have its rightful place in the United Nations Security Council as a permanent member".

"We make these observations in a sincere manner because we believe that working together will result in prosperity for both our nation states, most important of all, its people. We believe in inclusive growth and shared prosperity, not the typical 'winner takes all' ideology," Premadasa said.

Addressing the event, he emphasised the need for shared prosperity.

"We have to ensure that all in society are winners through our transactions and relationships. So let me assure all of you that Sri Lanka has a single-minded approach to come out of its present levels of bankruptcy," Premadasa said.

It is not an easy task and is full of challenges, he underlined.

"Even though certain macroeconomic indicators indicate positive tendencies, we face a pivotal challenge cometh 2028, when the repayment of our foreign loans and debt commences.

"In order to do so, we have to maintain high levels of economic growth, expansion of the export sector and foreign exchange earnings, thereby enhancing our foreign reserve levels, ensure that we improve upon our remittances, induce and encourage and incentivise greater foreign direct investment," the Leader of Opposition said.

He also said, "I would like to take this opportunity to encourage businesses, enterprises and investors here in India." "We welcome you with open arms because your infusion of capital and resources will help the people of Sri Lanka return to normality that is predicated upon present and future progress. We need innovative thinking to use the Indo-Sri Lanka relationship. It should be a strategic tool for both our countries to ensure that we prosper together," Premadasa added. PTI KND KND NSD NSD

India Sri Lanka relationship should prioritise partnership, shared prosperity, coordinated economic recovery, investment, and mutual security assurances. Sri Lanka advocates a non parochial, results based bilateral relationship with India centred on mutual economic recovery, inclusive shared prosperity, and national security cooperation; priorities include technology collaboration, increased foreign direct investment, SME revitalisation, export expansion, enhanced remittances, green energy, South South cooperation, and measures to restore reserves and meet impending debt service obligations.