Italy may exit Belt and Road Initiative, signals Italy PM; could this be boost for India?

NEW DELHI: Italy may withdraw from the Belt and Road Initiative, a massive project involving China. Italian Prime Minister Giorgia Meloni discussed this with Chinese Prime Minister Li Qiang during the G20 summit held in Delhi.

It is reported that Giorgia has given only preliminary indications about abandoning the project. The Belt and Road Initiative is a major commercial and diplomatic project of Chinese President Xi Jinping involving more than 100 countries. Italy joined the project in 2019. It is reported that Italy's withdrawal is to maintain smooth relations with the United States.

Italy also fears that a sudden confrontation with China under Xi Jinping could negatively affect trade and diplomatic relations. That's why it is believed that the Italian Prime Minister gave hints in this regard before officially withdrawing from the project. Reports claim that Giorgio Meloni will visit China in person to withdraw from the agreement by consensus. It is also noteworthy that China faced a setback with Italy's withdrawal from the Belt and Road Initiative at the same G20 forum where Prime Minister Narendra Modi announced the India-Gulf-Europe Economic Corridor.