Context: Recently, the European Commission has announced a plan, called Global Gateway, to mobilise EURO 300 billion by 2027 in public and private infrastructure investment around the world.

Global Gateway

• It is a roadmap for major investment in infrastructure development around the world.
• Aim- to mobilise up to €300 billion in public and private investments between 2021 and 2027.
• It is believed that it was launched to counter the China’s Belt and Road Initiative (BRI) initiative.
• Objectives- to spread European technology and expertise out in developing countries.   

Key Sectors for investments

• Digital transition in line with European values and standards
• Energy connectivity in support of green transition
• Sustainable, smart, resilient, inclusive and safe transport networks
• Health
• Education and research

Belt and Road Initiative (BRI)

• It is flagship project and global investment strategy of China
• It is formerly known as One Belt One Road.
• China took inspiration from the concept of the Silk Road.
• Silk road was established during the Han Dynasty 2,000 years ago.
• Launched: 2013
• Aim- to develop land and sea infrastructure to better connect China to Asia, Europe and Africa for trade and development.
• Objective-To stablish and strengthen partnerships among the countries along the Belt and Road.

The Belt and Road Initiative combines two initiatives-

• The Silk Road Economic Belt
• The 21st Century Maritime Silk Road

India’s Stand

• India has repeatedly said it will not join BRI because it’s key component – the China-Pakistan Economic Corridor (CPEC) – passes through PoK, which is disputed territory between India and Pakistan.
• Further, in order to counter China’s aggressiveness, India has initiated Act East Policy, SAGAR vision and is part of multilateral projects like Asia-Africa Growth Corridor (AAGC),and “Free and Open Indo Pacific” initiative.