By Ruchika Verma
- One Road One Belt Initiative is A Chinese initiative to connect all Asian countries
- The main motive is to connect all countries with which China shares a border
- This will help China improve its economy
China’s OBOR or One belt one road initiative was released in 2013 and is one of the most expensive initiatives taken by China. OBOR initiative is China’s way of improving inter-border connectivity. The OBOR agreement has been signed by most of the countries with which China shares a border except for India.
What exactly is One Road One Belt?
Known as China’s President Xi Jinping’s most ambitious project, the One Belt One Road initiative focuses on improving connectivity and cooperation among Asian countries, Africa, and Europe. The belt and road initiative lays emphasis on enhancing the land and maritime routes. The policy aims to boost the domestic growth of China and is very crucial to the country as well.
OBOR is also a part of China’s economic diplomacy strategy. Since China is no longer a part of G7, OBOR might provide China with an opportunity to continue its economic development.
There are two components to this project of China — the Silk Road Economic Belt (SREB) and the Maritime Silk Road (MSR).
The SREB focuses on bringing China, Central Asia, Russia and Europe together and linking China with the Persian Gulf and the Mediterranean Sea through Central Asia and West Asia. The 21st-Century MSR goes from China’s coast to Europe through the South China Sea and the Indian Ocean in one route.
Why is India opposed to OBOR?
The main reason behind India’s opposition towards OBOR is the China-Pakistan Economic Corridor (CPEC). According to some reports, the launch of CPEC in Pakistan has helped China receive investments of worth more than $46 billion.
India doesn’t have any problem with OBOR but the CPEC through which it passes is a major concern. India has raised objections over CPEC citing sovereignty issues over the Pakistan-occupied Kashmir (PoK). China, however, has not tried to attenuate India’s concerns.