"Look at the change. It is far-reaching and will have an impact on Sri Lanka and the region," he told a local radio.
Wickremesinghe said Jayalalithaa's victory in Tamil Nadu was also a factor important for Sri Lanka.
"Look at the results in Tamil Nadu, they have voted for Jayalalithaa. Mr Modi has told me that he was against the division of Sri Lanka and he was against terrorism," Wickremesinghe said.
"We have to reshape our policies accordingly. I don't think Mr Modi will opt for confrontation. He and Jayalalithaa have excellent relations," he said.
Wickremesinghe said he was looking forward to meeting the new Indian leader and renew his acquaintances with Modi.