India’s ‘Cooperation Diplomacy’

past one In the decade, China got badly trapped in its debt-trap by giving huge loans to the poor and developing countries of the world. China’s debt-trap policy has affected India’s neighboring countries the most. Stuck in the vicious cycle of Chinese debt, the economies of Sri Lanka, Pakistan, Nepal and Maldives have reached the brink of destruction. Sri Lanka and Pakistan are going through the worst economic and food crisis ever. The economies of Nepal and Maldives have also drowned in the debt of China. In Sri Lanka last year, the people had uprooted the government by adopting the path of internal rebellion. The country is still on the verge of bankruptcy. According to the recent information given in the Sri Lankan Parliament, Sri Lanka’s usable foreign exchange reserves are only 50 million dollars. Similar is the situation in Pakistan. Pakistan’s foreign exchange reserves have also reduced to only $ 4.5 billion, which can only pay for three weeks’ import bills. China has flatly refused to provide further financial assistance to these countries, which are suffering from severe economic and food crisis, and also to re-structuring their loans. In times of such crisis, India has written a new chapter of deepening relations by providing huge financial assistance and support to Nepal, Sri Lanka and Maldives.

Significantly, in the past years, with the help of its conspiratorial economic policies, China has been successful in creating an unexpectedly anti-India atmosphere in major neighboring countries of India. In Nepal, which is considered to be an integral friend of India, under the Oli regime, by forgetting the years of ‘bread-beti’ relations with India and weaving the fabric of border dispute, every effort was made to create hatred towards India in the public. Critics had even started calling Nepal a colony of China. The then President of Sri Lanka, Gotabaya Rajapaksa, forgot India and preferred China and pushed the country into a severe economic and food crisis. Similarly, the then President of Maldives, Abdulla Yameen openly opposed India and launched ‘India Out Campaign’. Now the changed circumstances have changed the attitude of the people and rulers of these neighboring countries towards China. China has left these countries in the lurch in the middle of the difficult times, which were suffering from severe economic crisis and severe debt. In such a situation, moving forward on the path of its unique ‘supportive diplomacy’, India has provided financial assistance and support to these countries.

Foreign Minister S. Jaishankar recently introduced India’s ‘neighbourhood first policy’ to both the countries on his Maldives and Sri Lanka tour and announced not only $ 2.4 billion help to Sri Lanka, but also 50 crores to overcome the energy crisis. Has promised to provide dollar oil credit. Last year too, India provided more than $4 billion in aid by way of loans, grants, loans and extension of old debt. Under bilateral agreements with Maldives, recently reviewed the Science and Technology as well as housing projects and assured more investment in the Greater Male project. This kind of initiative by India has led to an unprecedented increase in the confidence of these countries and deepening of relations with India. Due to this, Maldives has made a public announcement of supporting India for a non-permanent seat in the United Nations Security Council in 2027. No doubt this is a huge diplomatic success of India. To balance India’s growing influence in neighboring countries, China has also given financial assurance to Sri Lanka not only to continue the $2.9 billion bailout package given by the IMF, but also to hold senior-level meetings in various countries to provide economic assistance. Has also started sending delegations, so that its influence can be re-established. Thanks to China’s assurance, now there is every possibility of Sri Lanka getting the IMF’s relief package. It is the result of India’s cooperative diplomacy that there has been such a big change in China’s attitude and has taken steps for economic assistance keeping a soft attitude towards the debtor countries. Neighboring countries of India, caught in the Chinese love-loop, have made a radical change in their attitude towards India, even under compulsion, due to which a new chapter will be written in the changing geo-political scenario.

Suresh Yadav