Why then is India officially giving a cold shoulder to this month’s mega meet on One Belt, One Road (Obor) in Beijing? Obor is the new silk road initiative, both by land and sea, announced by Chinese President Xi Jinping in 2013. This Belt and Road Initiative (BRI), as christened by the Chinese, will eventually encompass 100 countries representing 70% of the world’s population, 55% of GDP and 24% of global trade. This creates immense economic opportunities, in terms of investment, project contracts and employment. This $50 billion predominantly Chinese investment will link Central Asia and China to the Indian Ocean through the deep sea port of Gwadar.

Source: Mint May 02, 2017 20:37 UTC