Pakistan has approached the Asian Development Bank (ADB) for a USD 7 billion loan to upgrade a major railway line after China apparently declined to support the project. The development of Mainline-I (ML-I) railways between Peshawar and Karachi is stuck due to a lack of funds.
P K Mishra, a retired IAS officer of the Gujarat cadre, is currently serving as the principal secretary to the prime minister.
Two days after five Chinese nationals were killed in a suicide attack at a hydropower project in Khyber Pakhtunkhwa in Pakistan, a Chinese company has suspended civil works and laid off hundreds of workers at another hydropower project in the same restive province, according to media reports on Thursday.
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
Radio Free Europe reported that the Asian Infrastructure Investment Bank, a Chinese-led development bank, suspended all business with Russia and Belarus on March 3.
The Asian Development Bank has approved a US$ 1.5 billion (around Rs 11,185 crore) loan to India for COVID-19 vaccine procurement.
'We actually have a problem because there may be too much activity in India.' 'Markets don't like too much concentration. But we are very happy with our collaborations in India.'
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The project will be in three stages and sources indicate that the funding will be for the first stage of 107 kilometre from Sarai Kale Khan to SNB Urban Complex.
Reconstruction efforts after the Russia-Ukraine war will be dominated by the heft of the membership of major nations across international organisations. India is hamstrung because it does not play host to any major global institution nor does it hold positions of significant influence in the ones in which it has membership. As a result, the world's sixth largest economy is obliged to follow the rules set by most of them.
The bank will have initial authorised capital of $100 billion
BRICS countries, including India, on Thursday voiced concern over the "fragile recovery" of global growth and the potential spillover effects from the "unconventional monetary policies" of the developed countries.
The NDB will have an initial authorised capital of $100 billion.
Uttar Pradesh chief minister Akhilesh Yadav has written as many as 80 letter to the PM since he took as the reins of the state three years ago.
The BRI, a pet initiative of President Xi, is aimed at promoting network of roads, ports and rail networks all over the world to spread China's influence.
The results are likely to please the Indian government, which has been trying to impress on domestic and foreign investors about its efforts to improve the ease of doing business.
The venture is seen as a rival to the World Bank.
A feature of this year's BRICS summit was economic cooperation.
In an oblique reference to China's Belt and Road Initiative, Prime Minister Narendra Modi on Friday cautioned against rolling out connectivity projects without respecting sovereignty and territorial integrity.
India, the bank's second biggest shareholder after China, is looking to borrow from the AIIB.
Prime Minister Narendra Modi on Friday said his government has within 100 days in office steered the economy out of a "difficult situation" and brought stability, and promised to remove roadblocks to foreign investment.
About railways sector, the Survey said that it is facing stiff competition from other modes of transportation and the government is initiating various transformative measures to keep railways on track.
President Pranab's four-day visit to China that saw him meeting the top Chinese leadership and discussing the sticky boundary issue and cooperation in combating terrorism besides the need for a predictable nuclear regime.
'Given the sharp increase in oil prices, a mounting problem for the 2nd and 4th largest importers like China and India -- the Qingdao meeting is likely to push for the large energy producers (Russia and the Central Asian Republics) and energy consumers (China and India) to arrive at some understanding for mutually beneficial outcomes,' notes Srikanth Kondapalli.
'Significantly, Foreign Secretary Gokhale was received at very high level in Beijing.' 'It only shows China's keenness to move forward and put the relationship on a 'win-win' footing,' says Ambassador M K Bhadrakumar.
The board meeting is likely to take place later in Shanghai.
There is a sense of relief in Beijing that Modi will be at the helm of affairs in Delhi at a critical juncture in the geopolitics of the region, says Ambassador M K Bhadrakumar.
'The reason why we don't have an escalation of war like in 1962 is because in 1962, we didn't have this connectivity.' 'Whereas today, we have lots of incentives to stay stable and connected to China even though we still have that political rivalry.'
China has demonstrated that it has the power to not be isolated, and it is likely to become more powerful over time.
'Modi's recent decisions to improve India-China relations, adjust India's neighbourhood policies and to rebalance India's ties with the major powers are linked to his political agenda.' 'Of course, the good part is that this agenda is also in the national interest,' says Ambassador M K Bhadrakumar.
Swamy said Prime Minister Narendra Modi should convene a conference of "insiders" to draw up a new policy especially after the recent Lakhvi episode.
India, China must further strengthen business ties for growth.
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Any additional effort to assuage the growing worldwide hunger for infrastructure funding is more than welcome, says Barun Roy.
'While visits and personal meetings are useful, changes of strategic significance have occurred recently, with Beijing trying to take the lead which Modi must take note of.'
China's intended role for AIIB is not so different from the existing Western lenders like the World Bank.
'Whichever option India chooses, it should be clear to the government that the China-Pakistan nexus poses a clear and present danger to national security,' says Brigadier Gurmeet Kanwal (retd).
'This novel format of diplomacy -- the informal summit -- will not only facilitate bilateral communication and reduce miscalculations at the very top level of the two governments, but possibly open the space for China and India to speak in one voice on various issues of mutual concern,' note Feng Renjie and Ding Kun Lei
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