Onur KAYA
Emine AKÇADAĞ ALAGÖZ
Abstract
The main aim of this paper is to explain the reasons behind India’s decision to stay away from China’s Belt and Road Initiative, which is welcomed by many countries due to its significant economic and commercial opportunities, within the scope of its hedging strategy toward China. It is not possible to interpret India’s this decision without taking into account its hedging strategy, since on one hand, India approaches China by considering its economic and commercial interests, on the other hand, it tries to create partnerships and collaborations that will balance China, due to its security concerns. Within this context, India plays active role in Asia Infrastructure Investment Bank (AIIB) which is an important fund mechanism for Belt and Road Initiative and seeks regional cooperation strategies with other Pacific countries such as Japan, United States and Australia. India’s hedging strategy, which is based on economic engagement and strategic balancing, prompts New Delhi to stay out of the Belt and Road Initiative, considering the China-Pakistan Economic Corridor and China’s attempts to increase its influence in the Indo-Pacific region.
Keywords: Hedging strategy, Belt and Road Initiative, Indian foreign policy, Indo-Pacific
