Wuhan spirit should spur India to join Belt and Road initiative: China

Wuhan spirit should spur India to join Belt and Road initiative: China

News:

1. Recently, China called India its “natural partner” in the Belt and Road Initiative (BRI).

Important facts:

2. China also advocated better ties between New Delhi and Islamabad within the Eurasian framework.

3. India-China ties had entered a new phase of development since the Wuhan informal summit.

4. On India’s objections to the China-Pakistan Economic Project (CPEC) on ground of sovereignty, Chinese official said the difference between two nations on the project was overridden by the rapid turnaround in their ties after the Wuman summit.

5. Till now, India has not formally endorsed BRI, New Delhi did not participate in a summit of the grouping, leading to considerable consternation in Beijing.

6. Chinese official cited India and China’s collaboration in the infrastructure arena through the Asian Infrastructure Investment Bank (AIIB)- one of the pillar that props BRI projects.

7. India is a founding member of AIIB and second largest shareholder of the bank.

8. Around 20% of AIIB’s projects are based in India.

9. Recently, the Chinese Foreign Ministry welcomed India and Pakistan’s joint participation in a Eurasian counterterrorism military exercise under the framework of the Shanghai Cooperation Organisation.

10. Way ahead:

• Both sides need to enhance their dialogue and cooperation both bilaterally and within multilateral mechanisms like the SCO, work together to improve their ties and jointly maintain regional peace and stability.