Delhi may benefit from EU’s Global Gateway funding
INDIA could receive a chunk of the €300 billion (£263bn) fund announced by the European Union (EU) under its Global Gateway scheme aimed at expanding connectivity including in the Indo-Pacific region, French ambassador Emmanuel Lenain said.
Announced in December last year, the global investment plan for connectivity projects across the world is seen as a counter to China’s Belt and Road Initiative, which has been criticised for its “predatory loans”.
Lenain said, “The total funding for this project is €300bn. It is massive. I am confident that the Indo-Pacific and India could receive a chunk of it.”
The 27-nation bloc has projected the Global Gateway as an initiative that is based on the principles of good governance including transparency, financial and fiscal sustainability as well as fair competition.
On China’s increasing assertiveness in the Indo-Pacific, he said Paris did not want to be “confrontational” but preferred to be “efficient”, while highlighting the shared goals between India and France for the region.
“There is total convergence. There is no issue with that. France witnessed the same assertivity of China in this region and we are really committed,” he said.
There have been rising global concerns over China’s increasing military might in the Indo-Pacific region, as Beijing pursues close ties with Pakistan and Sri Lanka.
Talking about the challenges facing the Indo-Pacific, Lenain said there was a need to provide an “alternative to the Chinese model”.
“We feel we are India’s neighbour: we are a resident power of the Indo-Pacific.
We have territories in this region, we have people in the region, almost two million French citizens, and we have troops,” Lenain said.
“So we are totally committed. We have a strategy that was spelt out in the same year as India did in 2018. We have the same view of what should be done.”
The ambassador said France preferred a comprehensive strategy to tackle the challenge.
“We do not want to be confrontational, we want to be efficient. Obviously, there is a security aspect. We work together (with India) on maritime security, we do joint patrolling, we do intelligence sharing,” he said.
“But that’s not all. We also need to provide an alternative to the Chinese model. The countries (of the region) want to develop, and we want to allow them to develop in a sustainable, green and transparent manner.
“That’s what we are doing. We work together on connectivity, health and climate issues. And we want to do even more with India,” he said.
The French envoy also highlighted the EU’s strategy for the Indo-Pacific which was unveiled last year.
“The EU last year adopted an IndoPacific strategy. It is massive and impressive. As it is always with the EU you do not see it right away, but you will feel it over the years. It will yield huge results because it is backed by all the power of the EU and all the funds of the EU,” Lenain said.
“In this package, there is an initiative called Global Gateway ... to fund connectivity projects,” he added.
India and France last month agreed to set up a framework for development projects following talks between India’s foreign minister S Jaishankar and his counterpart Catherine Colonna.
“During the visit of our foreign minister last month, it was announced that our two countries are launching a joint fund to promote initiatives in the IndoPacific area by companies in line with these goals,” Lenain said.
New Delhi is also engaged with Paris for cooperation in the Indo-Pacific under the India-France-Australia trilateral.
India has also been pushing for a free and inclusive Indo-Pacific under the framework of the Quad or Quadrilateral Coalition, which comprises India, the United States, Australia and Japan.