India takes a strong stance against China’s BRI during SCO summit
financialexpress.comIndia said no to China’s Belt and Road Initiative at the SCO summit. India continued its policies towards BRI which are largely seen as the mechanism for economic trade expansions based on clumsy and hideous terms of financial transactions.
India is the sole country to withhold endorsement of the BRI during the summit.
So far, several countries have decried the non-transparent financial terms and conditions of the BRI which often led to heavy debt and economic woes.
There are multiple reports which point out a dozen countries severely indebted to China including Pakistan, Kenya, Laos, Mongolia and Zambia. For all their heavy debt, the common factor is the BRI-led financing for large-scale infrastructure projects which are often found to be unsustainable.
At the Shanghai Cooperation Organisation (SCO) leaders’ summit, under the New Delhi declaration issued, India refused to sign the paragraph supporting the Belt and Roads Initiative (BRI).
In fact, India followed the same dictate which was used in the Samarkand declaration in 2022 when India refused to sign off on the paragraph.
India has been consistent in not supporting China’s Belt and Road Initiative (BRI). That is reflected during the SCO summit where External Affairs Minister S Jaishankar continued his stance on the BRI.
In fact, closer to the summit, S Jaishankar described China as an important neighbouring country to India while continue reminding Chinese leadership that “the state of the border will determine the state of the relationship. And the state of the border today is still abnormal.”
Without India, the BRI paragraph in the New Delhi declaration of 2023 reads, “Reaffirming their support for China’s “Belt and Road Initiative” (BRI) initiative, the Republic
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