In its first reaction to the flurry of fast-paced developments in Colombo, India on Sunday said it stands with the people of Sri Lanka as they seek to realise their aspirations for prosperity and progress through democratic means, values and constitutional framework.

Ministry of External Affairs (MEA) Spokesperson Arindam Bagchi said India continues to closely follow the developments in Sri Lanka and that it is aware of the many challenges that the country and its people have been facing.

Embattled Sri Lankan President Gotabaya Rajapaksa on Saturday announced that he will resign after angry protesters stormed his official residence and set Prime Minister Ranil Wickremesinghe's private residence on fire.

"We are aware of the many challenges that Sri Lanka and its people have been facing, and we have stood with the Sri Lankan people as they have tried to overcome this difficult period," Bagchi said.

"India stands with the people of Sri Lanka as they seek to realise their aspirations for prosperity and progress through democratic means and values, established institutions and constitutional framework,” he said.

He also referred to India's financial aid to help the island country deal with its severe economic crisis.

"In pursuance of the central place that Sri Lanka occupies in our Neighbourhood First policy, India has extended this year itself an unprecedented support of over $3.8 billion for ameliorating the serious economic situation in Sri Lanka," Bagchi said.

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