◆India to partner US & Russia to counter against China's Belt and Road Initiative
【New Delhi】India is partnering with both the US and Russia to build connectivity networks and related infrastructure in the Indo-Pacific region that will run parallel to China's mega Belt and Road Initiative (BRI), which has been described as Beijing's tool to dominate geopolitics.
While the US government's international finance development agency is in talks with India to sign an agreement for joint investments in energy, transport, tourism and technology infrastructure in the Indo-Pacific region, Moscow will launch talks with Delhi for the creation of a corridor connecting Russia-Kazakhstan-Turkmenistan-Iran-Oman-India, sources indicated to ET. The idea of the corridor will be discussed at next week's Indo-Russian annual summit. It will complement the International North South Transport Corridor, Ashgabat Agreement (connectivity project in Eurasia along with Oman) and India's association in Iran's Chabahar Port. The issue could also be discussed at the Indo-Uzbek Summit here early next week, in the backdrop of a mega transport conference that was organised in Tashkent recently.
India is keen on the promotion of non-BRI corridors in the Eurasian region and it is the only country which did not endorse BRI in the Shanghai Cooperation Organisation Summit Communique.
The US government is putting in a mega financial package for partnering with India, Australia and Japan to build infrastructure projects to counter-balance BRI, it has been learnt. If a Bill is passed and signed into law by US President Donald Trump, the Overseas Private Investment Corporation (OPIC) would be renamed the US International Development Finance Corporation (USIDFC) and the amount of money the agency could put towards infrastructure projects would more than double, with a cap of $60 billion, Hong Kong English daily South China Morning Post on Monday said.
India to partner US & Russia to build capabilities
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