Sri Lanka, June 26 -- Sri Lanka could miss a once-in-a-generation opportunity to plug into the fast-growing supply chains of southern India - that is unless the island nation pushes through market-opening reforms that go "well beyond" its current International Monetary Fund (IMF) programme, leading international economist Prof. Razeen Sally warned this week.

Prof. Sally, former Associate Professor at the Lee Kuan Yew School of Public Policy in Singapore and a former chair of the Institute of Policy Studies (IPS), Sri Lanka, said deeper trade, investment and regulatory changes are essential to shield the crisis-hit economy from fresh external shocks such as higher oil prices or new US tariffs.

"The danger is that the external shocks, Tru...