India and Its Neighbourhood - Belt Road Initiative (Download PDF)

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Second BRI (Belt and Road Initiative) forum recently concluded in Beijing, China. India, U. S and other countries have concerns over the project since 2017.

Concerns with BRI

  • A giant connectivity initiative by China.
  • Revival of the ancient Silk Road across Eurasia and Africa.
  • Lack of transparency regarding the BRI project negotiation.
  • Corruption allegations in BRI Projects.
  • The balance of power has been pushed in the favour of subsidised Chinese companies.

Fears of a “debt trap”

  • Sri Lanka
  • The Maldives
  • Malaysia

China՚s commitments

  • Transparency and sustainability.
  • Greater debt sustainability in the financing model.
  • Renegotiations on projects.
  • Equitable and transparent financing network particularly for the smaller states.

Key Takeaways for India

  • India welcomed Chinese President՚s words on transparency and inclusivity.
  • India՚s objection to the China-Pakistan Economic Corridor (CPEC) running through parts of Pakistan Occupied Kashmir.
  • India՚s decision to skip the BRF.
  • Exclusion of the BCIM Economic corridor from the list of projects under BRI.

South Asia is covered by three major undertakings:

  • China-Myanmar Economic Corridor (CMEC)
  • Nepal-China Trans-Himalayan Multi-dimensional Connectivity Network, including Nepal-China cross-border railway
  • China Pakistan Economic Corridor (CPEC)

Indian Ocean Region-China՚s Strategy and India՚s Response

  • New challenges for India.
  • India needs to make strategic partnerships.

Recent Exercises by India

  • Indian and Australian warships held drills in the Bay of Bengal in April 2019.
  • Anti-submarine exercise with the US Navy near Diego Garcia.
  • Indian Navy held a joint exercise “Varuna” with the French Navy off the coast of Goa and Karwar.
  • Two Indian warships participated in a group sail with warships from Japan, the Philippines and the U. S.

- Published/Last Modified on: April 26, 2020

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