India Advocates for Regional Stability and Prosperity at SCO, Emphasizing Respect for International Law and Economic Cooperation

India Advocates for Regional Stability and Prosperity at SCO, Emphasizing Respect for International Law and Economic Cooperation

Asif Iqbal | October 26, 2023 | 08:28 PM IST | India | Follow on Google News

India Advocates for Regional Stability and Prosperity at SCO, Emphasizing Respect for International Law and Economic Cooperation.image/twitter@Eam

India’s Message for SCO on Regional Prosperity

At the 22nd session of the Council of Heads of Government of the Shanghai Cooperation Organisation (SCO), India’s External Affairs Minister, S. Jaishankar, delivered a key message emphasizing the importance of adhering to international law, respecting sovereignty and territorial integrity, and promoting economic cooperation. These remarks were seen as a veiled reference to China’s involvement in projects like the China-Pakistan Economic Corridor (CPEC), which India has opposed due to its path through Pakistan-occupied Kashmir (PoK).

Building on Civilisational Ties

India’s representative highlighted the deep civilisational ties shared with the people of the SCO region, emphasizing the historical relationships that can serve as a foundation for greater economic cooperation.

Connectivity and Infrastructure for Economic Growth

Jaishankar noted that to enhance trade within the region, robust connectivity and infrastructure are essential. However, he emphasized the importance of these initiatives respecting the sovereignty and territorial integrity of all countries. Furthermore, he warned against creating unviable debt through opaque initiatives, making a veiled reference to China’s Belt and Road Initiative (BRI) and its associated debt concerns.

India’s Alternate Economic Corridors

India put forward the India-Middle East-Europe Economic Corridor (IMEC) and the International North-South Transport Corridor (INSTC) as potential “prosperity enablers.” IMEC is seen by many as an alternative to China’s BRI, and it was jointly announced by several nations on the sidelines of the G20 summit in September. The INSTC is a multi-mode network of routes for transporting goods between India, Iran, Azerbaijan, Russia, Central Asia, and Europe.

Global Concerns Over BRI Debt Traps

The Global South, often characterized as developing or less developed countries, has faced concerns over debt traps due to China’s ambitious BRI infrastructure projects. China has been criticized for predatory financing practices that potentially undermine the sovereignty of smaller nations.

SCO’s Focus on New Areas of Cooperation

During its SCO presidency, India concentrated on five new areas of cooperation: Startups and Innovation, Traditional Medicine, Science and Technology, Youth Empowerment, and Shared Buddhist Heritage. These themes have received a positive response, and India has established a Special Working Group on Startups and Innovation, in addition to hosting the SCO Startup Forum.India’s message at the SCO underscores the need for a collaborative and respectful approach to regional development, economic cooperation, and sovereignty protection.

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Asif Iqbal

Asif Iqbal is a seasoned news writer with a passion for delivering the latest updates to the public. Currently serving as the senior writer at VoM News, a prominent news outlet known for its comprehensive coverage of diverse topics, Asif has established himself as a reliable source of information. With a keen eye for detail and a knack for storytelling, he consistently provides readers with well-crafted articles that cover a wide range of news categories. His dedication to journalistic integrity and his commitment to staying ahead of the news curve make him an invaluable asset to Vom News, ensuring that readers are always well-informed on the issues that matter most. You can find his work and stay updated on current events by visiting vomnews.in.