INDIA TO RETALIATE BELT AND ROAD INITIATIVE BY CHINA

BRI counter of India 

China launched there Belt and Road Initiative (BRI) in 2013 by Xi Jinping where Belt means the overland routes for road and rail transportation whereas road is refer to sea routes. In which China promote other countries to build and develop there Infrastructure and Connectivity within counties by taking loan from China. If they fail to return the loan the Chinese government acquire that land for at least of 100 years of lease for example the Hambantota Port in Sri Lanka. The loan is given high interest rate and the terms and condition to pass a loan for a country is not known to any of the financial body like IMF or World Bank. China haven't allowed international bodies to look after their BRI project it’s quite an opaque process of passing a loan and non-transparent financing model which nobody knows with high interest rate which eventually many countries fail to return back the loan in that case they acquire there land.

China has invested on 152 countries of Africa, Asia, Europe, Middle East and the Americas. According to Morgan Stanley report the BRI can be double its investment in upcoming years to $1.2 trillion= $1.3 trillion by 2027.

India’s move for counter

Minister of State External affairs, V. Muraleedharan showed India’s counter to the BRI and China Pakistan Economic Corridor last week in Lok Sabha stating that Government of India has provided soft loan to 63 countries, it is a part of government of India Line of credit (LOC) program in which socio-economic development is been focused such as power, transport, connectivity, agriculture, and irrigation, manufacturing industries, water and sanitisation, health care. These loans are provided with low interest rate as compare to china

Government of India has extended 279 LOCs to 63 countries of Asia, Africa, Latin America, Caribbean, Oceania and Commonwealth countries to invest $28 billion.   Of this, 254 projects approximation to be $4.70 billion have been completed, while 194 projects worth nearly $19 billion are under implementation. These include 94 connectivity projects in five countries in India’s immediate neighbourhood that are being taken up with Government of India LOCs worth nearly $6.6 billion.

But there was no mention of bilateral project of Indo-Japan in the Indo-Pacific region or the proposed trilateral of JAI (Japan USA India) or any quadrilateral of India-USA-Japan-Australia.

CONCLUSION

The scenario is not in favour of India as we can compare the budget of India and China there is no match in loans. The quadrilateral countries are also not in active Australian economy is not well at this time and Japan acting as neutral, USA also been a rival to China in trade war and cutting up itself.  

So there is no solid ground to counter the China’s Belt and Road Initiative and China using the POK for the China Pakistan Economic Corridor. Indian Government should also cease the activity which are being conveyed by China in the Pakistan Occupied Kashmir and look after it.

This can be very crucial to India’s geo-political situation as china is occupying all our neighboring countries