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India’s PhonePe unveils UPI payment in partnership with LankaPay

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LankaPay – Sri Lanka’s National Payment Network on Wednesday announced its partnership with PhonePe – one of India’s most popular fintech apps – towards accepting UPI payments at LankaQR merchant points.

The launch was graced by Indian High Commissioner Santosh Jha who highlighted the key role played by fintech connectivity in the overall connectivity between India and Sri Lanka. Addressing the gathering, Guest of Honour Central Bank of Sri Lanka Governor Dr. Nandalal Weerasinghe, acknowledged the collaboration’s capacity to unlock new opportunities and enhance competitiveness and the benefits that it would bring to Sri Lankan merchants.

PhonePe International Payments CEO Ritesh Pai said: “We are thrilled to announce our partnership with LankaPay. This collaboration offers unparalleled convenience to Indian tourists who can now use a familiar and secure payment method while traveling and pay across LankaQR merchant points. PhonePe has always been at the forefront of driving innovation in payments. We are incredibly proud to be driving UPI adaptation across India, and our expansion to Sri Lanka is another exciting step forward.”

LankaPay CEO Channa de Silva CEO said: “LankaPay is delighted to collaborate with PhonePe to revolutionise the cross-border payments between Sri Lanka and India. This partnership is bound to provide greater convenience to Indian tourists and business travelers in making seamless UPI payments at all LankaQR merchant points in Sri Lanka via PhonePe app. We are excited about the potential of this collaboration that would enhance payment experience to Indian tourists and business travellers during their stay in Sri Lanka and also provide the merchants with a cost-effective proposition to card payments. I envisage that innovation to be the cornerstone of this alliance and would lead to further strengthening of bilateral relations between the two countries.”

At the launch, de Silva also made an insightful presentation, giving a snapshot of Sri Lanka’s digital payment landscape followed by an insightful panel discussion on ‘The Future of Digital Payments in Sri Lanka: Opportunities for Sri Lankan Businesses,’ which focused on the possibilities and growth avenues for local businesses.

The session featured National Savings Bank GM/CEO Shashi Kandambi, Hatton National Bank PLC COO Sanjay Wijemanne, LOLC Finance PLC Chairman Conrad Dias, and Dialog Finance PLC Chairperson Renuka Fernando, who discussed how businesses can leverage digital payment technologies and tap into a wider market to stay competitive in an evolving economic landscape. The session was moderated by LankaPay CEO de Silva.

Following the panel discussion, PhonePe International Payments CEO Ritesh Pai unveiled insights on leveraging UPI for global markets and the growth prospects it offers for merchants.

The event also saw the presence of several key stakeholders from the Sri Lankan financial landscape, including senior representatives from banking sectors, payment system providers, and representatives from tourism sector and business associations. This alliance is facilitated through LankaPay’s partnership with NPCI International Payments Ltd. (NIPL).

During the event, PhonePe announced that its app users travelling to Sri Lanka can now make payments using UPI across LankaPayQR merchants nationwide. Users can simply scan LankaQR code to make secure and quick payments without carrying cash or calculating currency conversions. Their account will be debited in INR, showing the currency exchange rate. These transactions are facilitated by the Unified Payments Interface (UPI) and LankaPay National Payment Network.

PhonePe Group is India’s leading fintech company. Its flagship product, the PhonePe digital payments app, was launched in Aug 2016. In just seven years, the company has scaled rapidly to become India’s leading consumer payments app with over 520 million registered users and a digital payments acceptance network of 38 million merchants. PhonePe also processes 230+ million daily transactions with an annualised Total Payment Value (TPV) of $ 1.5+ trillion.

On the back of its leadership in digital payments, PhonePe Group has expanded into financial services (Insurance, Lending, Wealth) as well as new consumer tech businesses (Pincode – hyperlocal e-commerce and Indus App Store – India’s first localised App Store). PhonePe Group is an India headquartered technology company with a portfolio of businesses aligned with the company’s vision to offer every Indian an equal opportunity to accelerate their progress by unlocking the flow of money and access to services.

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Araliya Group of Companies Strengthens Logistics Operations with Acquisition of 10 New Trucks from DIMO

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Araliya Group of Companies has further strengthened its logistics and transportation capabilities with the acquisition of 10 brand-new TATA LPK 1618 trucks from Diesel & Motor Engineering PLC (DIMO), one of Sri Lanka’s leading automobile distributors.

This strategic investment expands the Group’s existing fleet to over 200 vehicles, reinforcing its ability to support large-scale operations across multiple sectors. The newly added trucks are expected to enhance efficiency, reliability, and operational capacity within Araliya’s supply chain and distribution network.

DIMO’s comprehensive after-sales service, technical expertise, and long-standing reputation for quality were key factors behind the Group’s decision. The collaboration highlights Araliya Group’s continued commitment to operational excellence and sustainable growth, while reaffirming DIMO’s position as a trusted partner for large-scale commercial transport solutions in Sri Lanka.

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Sri Lanka’s Largest Vehicle Investment: DIMO and Rathna Rice Pvt Ltd Complete Historic 50-Vehicle Fleet Deal

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In a groundbreaking transaction that marks Sri Lanka’s largest single vehicle investment to date, DIMO Lanka has successfully completed the delivery of 50 LPT 1615 TATA commercial trucks to Rathna Rice Pvt Ltd, setting a new benchmark for fleet acquisitions in the country.

This substantial growth demonstrated by the local business sector represents an economically significant milestone for Sri Lanka’s commercial vehicle industry.

The deal underscores the confidence and expansion capabilities of Sri Lankan enterprises, highlighting the continued strength of the domestic business community.

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Eco-Tourism, Climate Shocks, and Economic Resilience Lessons from Australia for Emerging Tourism Economies

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Climate shocks are no longer peripheral risks for tourism economies. They are now central economic variables shaping capital flows, employment stability, insurance markets, and long-term growth prospects. For emerging economies that rely heavily on tourism, climate volatility increasingly determines whether eco-tourism functions as a durable growth strategy or a fragile branding exercise.

Investor and fund manager Arj Samarakoon, widely known as Arj Samarakoon, has repeatedly argued in regional investment discussions that climate resilience should be treated as economic infrastructure rather than an environmental add-on. This distinction is critical for understanding why some tourism economies withstand climate shocks while others struggle to recover.

Australia provides a useful reference point. Despite facing frequent cyclones, floods, bushfires, and prolonged heat events, Australia has maintained long-term confidence in its tourism sector. This outcome is not the result of lower exposure, but of stronger institutional preparation.

Arjuna Samarakoon, widely known as Arj Samarakoon, with his team supporting food and flood relief efforts during climate-related disruptions in Sri Lanka.

Australia’s approach treats climate risk as a structural certainty rather than an exception. Disaster response frameworks, early warning systems, infrastructure standards, and recovery funding are embedded into policy well before crises occur. Tourism operators, insurers, and investors therefore operate within a predictable environment when climate shocks materialise. Research by the OECD shows that such predictability significantly reduces the economic cost of climate events.

For emerging tourism economies, the contrast is stark. Climate shocks often trigger uncertainty that extends well beyond physical damage. Delays in infrastructure restoration, fragmented public communication, and unclear recovery timelines can rapidly erode investor confidence. The World Bank has noted that institutional weakness frequently amplifies the economic impact of climate events in tourism-dependent countries.

Eco-tourism is often presented as a solution to this vulnerability. Nature-based tourism, conservation-led development, and community participation align well with global sustainability preferences. However, eco-tourism remains highly sensitive to climate shocks if resilience is not embedded into governance structures.

Projects marketed as sustainable can fail quickly when floods disrupt access, utilities become unreliable, or insurance coverage tightens. Without institutional resilience, sustainability narratives struggle to translate into stable economic outcomes. This challenge is increasingly recognised in discussions on what Sri Lanka can learn from Australia and the Philippines on economic reform and resilience.

Australia’s experience illustrates that eco-tourism succeeds when resilience is treated as a core economic function. Disaster response systems are designed to preserve continuity, not merely to provide relief. Communication during climate events is coordinated to protect destination confidence rather than amplify uncertainty.

For emerging economies, the lesson is not to replicate Australia’s scale or spending capacity, but to adapt its institutional logic. Climate resilience must be integrated into tourism policy, infrastructure planning, and investment assessment frameworks.

As Arj Samarakoon has noted in investment forums, capital increasingly flows toward destinations that demonstrate governance capacity under stress. In a climate-exposed world, eco-tourism is no longer judged solely by environmental appeal, but by its ability to function through disruption.

Climate shocks will continue to shape tourism economics. Emerging economies that treat resilience as strategy rather than sentiment will be better positioned to convert eco-tourism into a durable source of growth.

  • OECD (2021). Climate adaptation and resilience in tourism economies.
  • World Bank (2020). Climate resilient tourism development.
  • UNWTO (2021). Tourism and climate change: Policy frameworks.

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