At SCO meet, Jaishankar targets BRI

Source: The post is based on an article “At SCO meet, Jaishankar targets BRI” published in The Hindu on 2^nd November 2022.

Syllabus: GS 2 – International Relations

Relevance: India’s response in SCO meeting

News: A virtual meeting of the Shanghai Cooperation Organisation (SCO) was held recently. It was attended by the External Affairs Minister S. Jaishankar.

What were the response of India’s External Affairs Minister S. Jaishankar at the SCO meeting?

Connectivity projects should respect the sovereignty and territorial integrity of member states and respect international law. He said this in reference to China’s Belt and Road Initiative (BRI).

More trade through Iran’s Chabahar port and the International North South Transport Corridors (INSTC) to improve bilateral trade with Central Asian countries.

India’s total trade with SCO Members is only $141 billion which has potential to increase. He put emphasis over access to fair markets for mutual benefits to move forward with increasing the trade.

Amongst the SCO countries India’s large amount of trading is done with China which crossed $100 billion this year.

India is looking for greater cooperation with SCO member states on countering the food crisis, particularly with millets. The recent food crisis is caused by the Ukraine war.

There is a need for better connectivity in the SCO region built on the interests of Central Asian states. This will unlock the economic potential of this region.

Other member countries of the SCO criticized economic sanctions imposed on Russia as it affects the global economy.

What is the stand of India on BRI?

BRI is a series of infrastructure projects that pass-through Pakistan, Afghanistan and Central Asia. India has refused to join the BRI.

India on the other hand is looking for the alternative to BRI and an alternative trade route through Pakistan.

For this, India has been developing and promoting the Shahid Beheshti terminal at Chabahar and the link through the INSTC.