PM Modi and Sri Lankan premier Wickremesinghe issue joint statement
The statement also mentioned about Sri Lankan Tamils, expressing hope that the community will be able to lead a life of dignity and prosperity.
Modi said this is a "historic" year for India-Sri Lanka relations.
"As a close neighbour and friend we wish Sri lanka every success and assure India's unwavering support," PM Modi said in his statement.
"We are confident Sri Lankan will achieve all round development and Sri Lankan Tamils can achieve a life of dignity and prosperity," he said.
"We welcome development in bilateral relations including currency swap agreement in March...We both want deeper economic engagement.
We want trade to become more balanced for Sri Lanka."
"I assured Prime Minister Wickremesinghe of continuing commitment to our development partnership. This is a relationship that touches the hearts of ordinary Indians and Sri Lankans", he said.
Modi reaffirmed both the countries' commitment to security and defence cooperation and fight terrorism.
He said Sri Lanka is the largest partner in defense training and India will continue cooperation.
Modi also discussed about sensitive Indian fishermen issue with the Sri Lankan PM.
"We agreed that fishermen associations on both sides should continue efforts to find a solution", Modi said.
The visiting Sri Lankan Prime Minister, on his part, said: "I am here to convey our desire to continue our relationship."
"We have briefed his excellence (PM Narendra Modi) that we will are looking forward to reconciliation.I must thank excellency (PM Modi) for the help given by India for the rebuilding effort," he said.
"Peace and stability in the region is the key to our success. When there is instability we both get affected. We look forward to further cooperation in trade, investment and technologyWe are in a unique position that we have a mandate from the people to continue relations with India."
Sri Lankan Prime Minister Ranil Wickremesinghe arrived in New Delhi on Monday on a three- day visit, in his first overseas trip after assuming the top office for the fourth term.
On Wednesday, Wickremesinghe will call on President Pranab Mukherjee at Rashtrapati Bhawan and hold talks.
External Affairs Minister Sushma Swaraj, Finance Minister Arun Jaitely, Railways Minister Suresh Prabhu, Coal and Power Minister Piyush Goyal, Road Transport and Highways Minister Nitin Gadkari and Oil Minister Dharmendra Pradhan will also meet the Sri Lankan Prime Minister.
Prime Minister Modi had visited Sri Lanka in March this year.
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