China proposed five principles of peaceful co-existence or Panchsheel for advancing the Belt and Road Initiative (B&RI), and as a vehicle for achieving sustainable globalisation.
Key Facts
- Friendship and cooperation with all countries in the world on the Belt and Road Initiative on the basis of the five principles of peaceful coexistence.
- 29 world leaders and representatives from countries across the continents took part the meet.
- Belt and Road initiative should be an open one that will achieve both economic growth and balanced development.
India’s Stand
India boycott China’s Belt and Road Forum (BRF) in view of sovereignty concerns related to the China-Pakistan Economic Corridor (CPEC), a flagship project of the initiative that is expected to figure prominently in the two-day meet. Objections related only to the CPEC traversing through Gilgit and Baltistan of Pakistan-occupied Kashmir (PoK). India treats the entire state of Jammu and Kashmir as its integral part.
China–Pakistan Economic Corridor
- CPEC is intended to rapidly modernize Pakistani infrastructure and strengthen its economy by the construction of: modern transportation networks, numerous energy projects, and special economic zones.
- It became partly operational when Chinese cargo was transported overland to Gwadar Port.
- CPEC will not only benefit China and Pakistan but will have positive impact on Iran, Afghanistan, India, Central Asian Republic, and the region.
The : Hindu
GS III : Effect of policies and politics of developed and developing countries on India’s interests, Indian diaspora