India has also shown interest in the B3W plan, suggested as a cut to China's much-discussed and controversial BRI project. India has given positive signs on the possibility of participating in the Build Back Better World plan proposed by US President Joe Biden in the UK-led G-7 summit.
After Prime Minister Narendra Modi participates in the G-7 summit, the Ministry of External Affairs, when asked about this joint effort of democratic and economically important countries, said that the relevant departments of India will actively look into its possibilities. P Harish, additional secretary in the ministry, told that in the G-7 summit, Prime Minister Modi emphasized that democratic countries should show that they have better capabilities in project implementation. They can implement development projects not only in their own country but also in other countries.
According to the Ministry of External Affairs, on the G-7 platform, PM Modi mentioned the experiences of Indian development projects not only in neighboring countries but also in African countries. It also emphasized that India is ready to take a more active contribution. In a press conference, Additional Secretary P Harish said that on the proposal of B3W, we can confirm that the relevant development agencies of India will study it and see the possibilities of partnership.
Note that President Joe Biden proposed a comprehensive project with Build Back Better World at the G7 summit. In the summit meeting on this proposal, the group of democratic countries including Britain, France, Germany, Japan, Italy agreed. With the help of this project of about $ 40 trillion, development projects will be carried forward in developing countries and less developed countries. According to the US government, this mega project will provide support for infrastructure development needs with shared values, high quality, and in a transparent manner.
According to a statement issued by the White House, this plan will provide concrete assistance to meet the emerging strategic challenge from China and to meet the development construction needs in low and middle-income countries.
Significantly, China has so far spread its feet in more than 100 countries through its ambitious Belt and Road project worth billions of dollars. At the same time, in many countries, there has been opposition from people in its alleged partner countries regarding the opaque methods of Chinese debt, financing, and project implementation. During the last few years, due to China-sponsored projects in many countries, the powers in many countries have also changed.
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