India hints won\'t attend April\'s Belt and Road forum

India hints won't attend April's Belt and Road forum

IANS  |  Beijing 

cannot be a part of China's as it ignores its core concerns on and territorial integrity, Indian to has said.

China's Belt and Road aims to connect Europe, Asia, and through a wide network of roads, highways, sea lanes and ports. Its jewel project, China-Pakistan Economic Corridor (CPEC), cuts through

did not attend the launch of the Belt and Road forum in 2017, saying CPEC violates its territorial

Talking to China's Misri made India's view clear when asked why has a complicated perception of the

"To be honest, we have made no secret of our views and our position on BRI is clear and consistent and one that we have conveyed to the authorities concerned.

"shares the global aspiration to strengthen connectivity and it is an integral part of our economic and diplomatic initiatives," Misri said.

"We are ourselves working with many and international institutions in our region and beyond on a range of connectivity initiatives.

"However, it is also our belief that connectivity initiatives must be based on universally recognised international norms, good governance and rule of law.

"They must emphasise social stability and environmental protection and preservation, promote skill and and follow principles of openness, transparency and financial sustainability," Misri added.

"Above all, connectivity initiatives must be pursued in a manner that respects the sovereignty, equality and territorial integrity of nations.

"No country can participate in an initiative that ignores its core concerns on and territorial integrity," the said in an oblique reference to the CPEC.

He also lamented the widening trade deficit in favour of and demanded more market access for Indian firms.

"The growth in bilateral investments has not kept pace with the expanding trade volume between the two While both have emerged as the top investment destinations for the rest of the world, mutual investment growth is yet to catch up.

"Bilateral trade will cross the $100 billion mark this year. However, this figure includes a deficit of $58 billion for and this deficit has been increasing over the years.

"India has been working with the Chinese side for export of a greater number of Indian goods and services to There has been some progress in this regard and market access has been granted to some Indian agricultural products, even though we still need to translate this market access into actual exports so as to expand India's export basket to and bring down the deficit.

"In addition, we also need to address the barriers for greater access to Indian and IT products and services in the Chinese market," Misri added.

--IANS

gsh/in

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, March 20 2019. 11:42 IST