India's Refusal to Join Belt and Road Summit Regrettable: Chinese Media
India's refusal to join China's high-profile Belt and Road initiative will not at all affect the cooperation in infrastructure development among its neighbouring countries, a report said.
The two-day Belt and Road Forum was attended by leaders from 29 countries, including Pakistan.(Image: Reuters)
Beijing: Terming India's move of not attending China's showpiece 'One Belt One Road' initiative as 'regrettable', a report in a state-run newspaper said that it will not at all affect the cooperation in infrastructure development among the neighbouring countries.
The two-day Belt and Road Forum was attended by leaders from 29 countries, including Pakistan.
India has boycotted the meeting due to sovereignty concerns over the USD 50 billion CPEC (China-Pakistan Economic Corridor), which passes through Pakistan-occupied Kashmir, said the report.
"India was openly sceptical of China's Belt and Road Forum (BRF) hours ahead of the opening of the event, mainly due to concerns over the China-Pakistan Economic Corridor (CPEC), a key project of the B&R, and whether it might influence the disputed Kashmir region," it said.
The B&R is a grand economic cooperation and development plan open to everyone, and is aimed at improving infrastructure in countries along the B&R route, thus benefiting the local people, it said.
Referring to the statement issued by the Ministry of External Affairs on March 13, a day before the two-day B&R summit, it said India also cited the potential debt burden as one of its other concerns, saying that, "connectivity initiatives must follow the principles of financial responsibility to avoid projects that would create an unsustainable debt burden for communities."
On Saturday, Pakistan and China inked new deals worth nearly USD 500 million, covering airport, port and highway construction, it said.
"As regards the potential debt burden, Pakistan's repayments will peak at around USD 5 billion in 2022, but this will be offset by transit fees charged in the CPEC," it quoted a media report and referred to Nepal officially signing a deal with China to join the B&R with plans to build a cross-border rail link that may cost up to USD 8 billion.
The article further stated that given the active responses from countries along the route, there is no way for India to impede its neighbouring countries from cooperating with China in infrastructure development.
"China has formally invited India to join the B&R. If India doesn't want to take a part on the stage, then it should just be a good member of the audience. The role is still available if India changes its mind, but it may only be a small role if it is left too late," it said.
(With PTI inputs)
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