INDIA (OBSERVATORY) – China was unable to get India’s support for its ambitious One-Way-One-Way project to develop infrastructure at a meeting of foreign ministers before the trip to China of the Prime Minister of India, Reuters reports.
India did not sign this initiative in the framework of one of the key projects – the economic corridor of China and Pakistan – the cost of $ 57 billion passing through Pakistan-run Kashmir, which India views as part of its territory.
However, the chances of attracting India to this project still remain, it will be a key measure of the success of Indian Prime Minister Narendra Modi’s visit to China to meet with the head of the People’s Republic of China Xi Jinping.
But the Indian foreign minister did not support the draft in a communiqué published after the meeting of the Chinese Foreign Ministers and the Shanghai Cooperation Organization (SCO), headed by Russia, in Beijing. Last year, India joined Pakistan with Pakistan.
All other foreign ministers – from Kazakhstan, Kyrgyzstan, Pakistan, Russia, Tajikistan and Uzbekistan – have confirmed support for China’s proposal on the project “One belt is one way,” the statement said.
Starting from 2013, China implements the program “One belt – one way”. Its goal is to create a physical infrastructure and political relations that will link more than 60 countries in Asia, Europe and Africa.
Critics are worried that China is so focused on the task of expanding its geopolitical influence in the competition with countries such as the United States and Japan that it is able to deal with projects that have no special economic meaning.
However, under certain conditions, the economic arguments in favor of this initiative look quite weighty. As confirmed by the report of the Asian Development Bank, many countries participating in the project urgently need large investments in infrastructure, and this is exactly the investments that China promises to provide.
Some countries, such as Bangladesh and Kyrgyzstan, lack reliable energy supply, which impedes the development of their industrial sector and weakens their export potential.
Other countries, such as Indonesia, do not have enough ports for intra-economic integration and international trade.