NEW DELHI: India is working on a plan to offer $50 million Line of Credit (LoC) to Sri Lanka in the defence sector –– the first such gesture towards the Southern neighbour as the two sides decided to expand defence and security partnership at Saturday’s summit to stabilise the Indian Ocean Region and the Bay of Bengal in the backdrop of China’s growing ambitions in these zones.
Delhi has plans to offer defence hardware to Lanka under LoC, besides expanding the training programme of the military of the island nation, ET has reliably gathered. There are also plans to supply hardware and equipment to other branches of the country’s military besides expanding supplies for Navy based on their needs, ET has learnt. Read more…
