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India refused to be part of China’s Belt and Road project at Shanghai Cooperation Organization

India refused to be part of China’s Belt and Road project at the Shanghai Cooperation Organization
India refused to give support to China’s mega connectivity project One Belt One Road initiative at the Shanghai Cooperation Organization.

India was the only country in the 8 member grouping, which refused to support the project. The joint communiqué said, “The Republic of Kazakhstan, the Kyrgyz Republic, the Islamic Republic of Pakistan, the Russian Federation, the Republic of Tajikistan and the Republic of Uzbekistan, reaffirming their support for China’s “One Belt, One Road” Initiative.

India demanded the countries to be transparent. China Vice President Naidu said, “For trade to play its part in the recovery process, all the partners must be trustworthy and transparent. It is trust and transparency that determines the sustainability of our global trade and nations must demonstrate their compliance with multilateral rules of trade to remain a part of the system.” He also added, “While undertaking individual efforts, we must take note of collective efforts to work on this situation. The ongoing crisis has exposed the world to vulnerabilities, forcing us to find ways to support each other.”

A European Commission report of March 2019 titled ‘EU-China-Strategic Outlook’ has pointed out how Chinese investments in third countries have neglected socioeconomic and financial sustainability and may result in high-level indebtedness.

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