NEW DELHI: India on Sunday indicated it could consider joining the so-called Build Back Better World (B3W) plan of the G7, described by the US as an affirmative initiative for meeting the tremendous infrastructure needs of low- and middle-income countries. The announcement of the proposal followed US President Joe Biden’s discussions with G7 leaders on strategic competition with China and is aimed at countering Beijing’s growing influence in these countries.

The government said it would study the proposal. “I can confirm relevant agencies of the government will study the specifics of the proposal as appropriate at a later stage,” MEA additional secretary P Harish said.

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“The PM has emphasised that democracies should demonstrate that in project implementation sphere, we can deliver not only within the country but in other countries also. The PM referred to India’s experience in neighbouring countries, African countries and in development framework partnership,” the official said.

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The initiative, which is expected to rival China’s BRI, will help narrow a $40 trillion infrastructure gap in the developing world, according to the US.

“Through B3W, the G7 and other partners will coordinate in mobilising private sector capital in four areas of focus — climate, health and health security, digital technology, and gender equity and equality — with catalytic investments from our respective development finance institutions,” the White House had said earlier.

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