Prime Minister Narendra Modi addresses the Sri Lankan parliament in Colombo.

Modi flew into Colombo in the early hours today for a historic visit during which he is expected to hold talks with the country's top leadership.

Speaking in Sri Lankan parliament Modi said, "I am conscious of the significance of this visit. This is the first stand alone bilateral visit by an Indian Prime Minister since 1987.

"Last month President Sirisena honored us by making India his first visit, this is how it should be between neighbors. It helps us understand each other better, find solutions to mutual concerns," the PM said.

Modi was received by Sri Lankan Prime Minister Ranil Wickramasinghe at the airport after he arrived in Colombo for a two-day visit at 5.25 a.m. following an overnight journey from Port Louis in Mauritius in a special Air India plane.

Sri Lanka is the final stop of his three-nation tour of Indian Ocean island nations that took him to Seychelles and Mauritius.

Modi, who is the first Indian Prime Minister to visit Lanka in 28 years, will on Friday hold summit talks with Sri Lankan President Maithripala Sirisena, who was in India last month on his first foreign trip after assuming office in January. He will also hold talks with his Sri Lankan counterpart Ranil Wickramasinghe.