INDIA TO SKIP CHINA'S BRFIC FOR A 3RD TIME

The two-day Belt and Road Forum for International Cooperation (BRFIC) is being held by China amid criticism that the loans amounting to billions of dollars for unsustainable projects turned out to be debt traps for smaller nations like Sri Lanka, driving them into a deep economic crisis

- 

For the third consecutive time, India is set to boycott a summit of China’s Belt and Road Initiative here on Tuesday to highlight its stand on the sovereignty issues in the controversial CPEC, which is being laid through the Pakistan-occupied Kashmir, and the financial viability of Beijing’s projects in smaller countries, official sources here said. The two-day Belt and Road Forum for International Cooperation (BRFIC) is being held by China amid criticism that the loans amounting to billions of dollars for unsustainable projects turned out to be debt traps for smaller countries like Sri Lanka, driving them into a deep economic crisis.

This year marks the completion of 10 years of the Belt and Road Initiative (BRI), the pet project of President Xi Jinping. China held two international forums for its mega global infrastructure initiative in 2017 and 2019. India had stayed away from both the meetings.

Official sources here said like in the previous two BRI conferences, India will not take part in this year’s meeting either.

India is steadfast in its criticism of the BRI, especially its flagship the USD 60 billion ChinaPakistan Economic Corridor (CPEC) being laid through Pakistan-occupied Kashmir (PoK) overriding New Delhi’s sovereignty concerns.

India is also vocal about its criticism that the BRI projects should be based on universally recognised international norms, good governance, and the rule of law, and fol low principles of openness, transparency and financial sustainability.