XLRI ExPGDM held a Panel Discussion on the theme Sri Lankan Crisis- Lessons for India

Jamshedpur: The panelist members were Rahul Bajoria, MD and Chief Economist for India and the Antipodes, Barclays Corporate & Investment Bank, Ankur Shukla, South Asia Economist, Bloomberg LP, and Aayushi Chaudhary, India and Sri Lanka Economist, HSBC. Academics Professor Abdul Quadir, XLRI Jamshedpur started the event by addressing the panel with an inaugural speech.

The structure and drivers of the Sri Lankan economy were put forward by the first speaker, Aayushi Chaudhary. The hindered sector of Sri Lankan tourism, the ban on fertilizers, and the national and geopolitical circumstances were discussed to open the conversation. Rahul Bajoria then shed light on how one can derive lessons from other countries that were dealing with similar crises, like Pakistan, Nepal, Maldives, etc. Indian geographical and demographical environment was discussed and the country’s export diversification was brought up. The third speaker was Ankur Shukla, who highlighted that the small export base of Sri Lanka was one of the prime reasons for the crisis. Professor H.K. Pradhan spoke about the urgency to restructure the debt of Sri Lanka. Most of the loans are short-term, hence the possibility of failed payment was high.

The panel brainstormed potential solutions and the implications they might carry on the neighboring countries such as Pakistan and Bangladesh. Views were exchanged on problem-solving and goal prioritization. The need for India to learn from this crisis and identify the early signs was highlighted. The session was closed with a Q&A session from audience members, which was addressed by the panel members.