: Editorial: Countering China #IndiaNEWS #Editorials Unveiling of the 0-billion infrastructure fund at the ongoing summit of leaders of the Group of Seven (G7) countries is a timely and necessary

Editorial: Countering China #IndiaNEWS #Editorials
Unveiling of the 0-billion infrastructure fund at the ongoing summit of leaders of the Group of Seven (G7) countries is a timely and necessary initiative, widely seen as the West’s response to China’s Belt and Road Initiative (BRI). The new fund will help developing countries tackle climate change. The decision was announced in the midst of deliberations at the summit being held at Germanys Bavarian Alps. Prime Minister Narendra Modi is representing India as a special invitee as part of efforts to expand the engagement in the Asia Pacific region. The new G7 Fund comes against the backdrop of growing allegations against China that it has been trapping low-income countries into unaffordable debts to be part of its trillion-dollar BRI push, which is seen as expanding Beijings trade power with Africa, Asia and Europe. Pakistan and Sri Lanka are the shining examples of Chinese entrapment. The G7 infrastructure fund, on the other hand, is neither a charity nor an aid but an investment that will deliver returns for everyone. It will focus on climate initiatives including promotion of regional energy trade in Southeast Asia. For the Indian side, the focus at the summit and bilateral meetings that Modi will hold on the sidelines will be on the challenges in the Indo-Pacific, including the sluggish post-pandemic economic recovery, and China’s assertiveness. In an increasingly uncertain world, exacerbated by the war in Ukraine, these meetings may set the contours of what a rules-based order may look like in the years to come.
The inclusion of countries such as India and Indonesia at the summit reflects an acknowledgement by the world’s most industrialised nations that some global problems — such as the climate crisis and food and health security — cannot be addressed without the involvement of the developing world. India will bring a fresh perspective to the narrative on climate change, carbon pricing and issues related to Intellectual Property and global food security. India is an active participant in many other divergent groupings like the Quad and BRICS. The summit will further establish the indispensability of India on global platforms. While there may be calls from some quarters at the summit for India to change its position on the conflict in Ukraine or to reduce the accelerated purchase of discounted Russian energy, New Delhi has stood its ground and adopted a more balanced approach guided purely by national interests. Modi participated in special sessions at the summit devoted to the climate crisis, energy and health, food security and gender equality. Though Ukraine was largely expected to dominate the agenda, at the gathering of leaders from the member countries — United States, United Kingdom, Canada, France, Germany, Italy and Japan — German Chancellor Olaf Scholz has said that the war should not shift the focus from other challenges, such as the continuing pandemic and the climate crisis.

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