Despite opposition from India, Nepal has justified the decision to join China's One Belt One Road (OBOR) project. On joining China's Forest Belt One Road, Nepal said that it can not ignore China because China is not only a great economic power but it is also its neighbor.
Nepal Ambassador Deep Kumar Upadhyay said while discussing with the Associated Times Times of India, "Major objections to the OBOR of New Delhi are related to the China-Pakistan Economic Corridor (CPEC). Nepal will never hurt India but simultaneously can not afford apathy towards economic superpower like Nepal China. Nepal needs massive foreign investment and development.
The biggest concern of India's OBOR is the CPEC, which is part of the One Belt One Road project. CPEC goes under the control of Pakistan-controlled Gilgit-Baltistan region on which India offers its claim.
In addition, the fast growing naval expansion in the Indian Ocean of Beijing has raised concerns about India. India has been in tension with the way China has lent money to Sri Lanka and Maldives and has established port and other strategic capital.
Nepal has sent Deputy Prime Minister and Finance Minister Krishna Bahadur as its representative for the OBOR Summit.
Upadhyay said, "We are aware of India's opposition to CPEC but Nepal is not going to take any side on this issue by joining the OBOR. We want both countries to resolve mutual differences friendly. Nepal is neutral on security issues of both India and China.
Upadhyay said, if Nepal wants economic benefits, then it is necessary for it to have a better relationship with the neighbors of the North. India's other neighbors such as Sri Lanka have also supported the OBOR. The recent debt crisis in Sri Lanka is only due to the debt taken at high interest rates from China.
According to an estimate, Maldives has taken 70 percent of its debt from China. Nearly 65 countries are participating in this summit in China.