List out the reasons for India refusing to sign up with China's Belt and Road Initiative. Also highlight India’s own initiatives in the realm of both national and international trade and people connectivity.
List out the reasons for India refusing to sign up with China's Belt and Road Initiative. Also highlight India’s own initiatives in the realm of both national and international trade and people connectivity.
Belt and Road Initiative:
- It is a global infrastructure development strategy adopted by the Chinese government in 2013 to invest in nearly 70 countries and international organisations
Reasons for refusing BRI:
- The CPEC (part of BRI) passes through the contentious PoK region.
- Non-transparent nature of project design.
- Unclear provisions with respect to debt repayment.
- Prevailing border tensions between the two countries.
India’s answer to BRI:
- India strives to offset the negative fallouts of not joining the BRI project by venturing its own domestic and international connectivity projects.
1. Domestic projects:
i) Domestic Infrastructure projects: Delhi-Mumbai Industrial Corridor (DMIC),
Chennai-Bangalore Industrial corridor, East West Industrial corridor, Coastal economic
corridor etc.
ii) Domestic connectivity projects:
National highway projects, national waterways projects, Dedicated Freight Corridor projects (Western DFC, Eastern DFC)
2. Bilateral projects:
- Kaladan Multimodal project (India- Myanmar), India-Afghanistan air corridor, Port connectivity projects between India and Bangladesh, Chennai Vladivostok Maritime Corridor etc.
3. Multilateral projects:
- Project Mausam, Spice-route project, INSTC, Asghabat agreement, BBIN MVA, IMT highway, Asia Africa Growth Corridor (AAGC), Blue Dot Network.
Conclusion:
- It is crystal clear that India is not a silent spectator of Chinese BRI, however India has to be so particular in faster implementation of its planned connectivity projects.
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