Monday, August 2, 2021

One Belt One Road Initiative: India Must Reconsider OBOR Stand

India might reconsider its stand on the One Belt One Road Initiative (OBOR) of China. While India has vehemently resented the One Belt One Road Project, experts now believe that India must look beyond geopolitical concerns and embrace the One Belt One Road Initiative. India is one of the largest stakeholders in the Asian Infrastructure Investment Bank (AIIB) and India must look to reconsider its stance on the OBOR Project, stated the Chinese Global Times.

The experts forecast that the fact that India gets massive dividends from the Asian Infrastructure Investment Bank (AIIB), India should support the One Belt One Road Project. Asian Infrastructure Investment Bank is a multilateral development bank based in Beijing. It has been operation since 2016 and India is the largest borrower at the Asian Infrastructure Investment Bank. China’s One Belt One Road Project is a part of China’s aspiration to revive the traditional silk route. Even the China Pakistan Economic Corridor (CPEC) is a part of the One Belt One Road Initiative. India has expressed strong objections to the CPEC claiming that the CPEC breaches India’s integrity.

The third annual meeting of the Asian Infrastructure Investment Bank commenced in Mumbai on Tuesday. India put forth the stance that India stands by the Asian Infrastructure Investment Bank to make economic growth in Asia more comprehensive and sustainable.  But India still has its reservation over the One Belt One Road Project despite close cooperation at the Shanghai Cooperation Meet and efforts made to have bilateral cordial ties between India and China.

Experts believe that India’supports the One Belt One Road Project then India too can significantly gain from it. Under the One Belt One Road Initiative, India can fetch more investment and bolster its trade volume. So, India’s economic aspirations must align with the One Belt One Road Project and India must look beyond the geopolitical scenario.

More News at EurAsian Times

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