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India Says It Will Study Biden’s Infrastructure Plan Competing With China’s Belt And Road Initiative | India News

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NEW DELHI: India has said it will study US President Joe Biden’s ‘Build Back Better’ global infrastructure initiative proposal announced at the G7 summit as an alternative to the China Belt and Road (BRI).
This plan, which is proposed to be led by major democracies, will provide financial and technological assistance to reduce the need for infrastructure of more than $ 40 trillion, mainly in the developing world, which has been exacerbated by Covid-19.
It is also expected to create local employment. This initiative at the G7 is seen as a potential shock to Chinese President Xi Jinping’s pet project BRI.
India said relevant agencies will study the plan and likely participate in the project later. In briefing journalists, Senior Ministry of Foreign Affairs (MEA) official P Harish said: “On the specific issue of joining ‘Build Better for the World’, I can confirm that the relevant agencies of the Government of India they would probably study and collaborate with them at the later stage. ”
The China Belt and Road Initiative (BRI) is already facing criticism even from subscribing countries. Whether it is mounting debt, lack of local employment, or transparency, many questions and red flags have been raised. While India has refused to join the Chinese initiative and sees it as a violation of its territorial integrity, neighboring Pakistan, Nepal and Sri Lanka are part of the BRI.
At the G7, Prime Minister Narendra Modi has urged democratic countries to show the world that they can implement projects in a more effective and transparent way.
According to a senior MEA official, “the prime minister has emphasized that democracies must demonstrate that in the sphere of project implementation we can deliver not only within the country but also in other countries. On this issue, the prime minister referred to India’s experience in neighboring countries, African countries and partnership in development framework. The Prime Minister also indicated that India is ready to do more in this regard, keeping in mind the spirit of transparency and inclusiveness. ”
At the G7, Prime Minister Modi also stressed the need for open and democratic societies to work together and strengthen each other to uphold the values ​​they uphold and respond to challenges.
When asked if there was any discussion about the origin of Covid, the MEA official said: “I can say that the G7 leaders and the invited countries had a very detailed and intense discussion about the need to reform the governance of global health. , I would like to emphasize in this regard, India has actively engaged with the international community at the G20, G7 and World Health Assembly levels on various aspects related to treating the current pandemic, learning lessons and preparing for future pandemics “.
The TRIPS waiver proposal between India and South Africa also found broad support in the G7 and the need to diversify technology transfer and funding for equitable vaccine distribution.
MEA Secretary P Harish said: “There was broad support in the deliberation for the text-based negotiations for the proposed TRIPS waiver between India and South Africa at the WTO. On the need to provide financial assistance to various manufacturers in the world, there was a general agreement to increase their capacity, regional production centers, provision of financing, technology transfer and skills development in these regions. ”
“I can say without hesitation that India’s commitment to the G7 and the invited countries stands on its own. This is the second G7 summit attended by the prime minister. He attended in France in 2019. This is also the first. Once India commits and tracks at ministerial level and working as a guest country. This is a significant commitment, “added the senior MEA official.
“UK Prime Minister Johnson referred to the four invited countries and work tracks as forming a democratic level and many countries appreciated the commitment of the G7 of India and the interventions of Prime Minister Modi during the sessions they found a great resonance at the meeting. So I can say that our engagement was fruitful, it was productive and we look forward to carrying forward our engagement on various initiatives, including in the lead-up to COP26, “added MEA Secretary P Harish.



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