Ninad D Sheth
Sheikh Hasina's recent trip to Beijing provided a sobering lesson in the art of realpolitik. Her expectations of securing $5 billion in loans and grants were swiftly quashed, with a curt meeting with Xi Jinping and a paltry $250 million offered. The Chinese state media's minimal coverage underscored the rebuke. Beijing clearly intended to reassert its dominance over Dhaka, but this strategy appears to have misfired.
In response, Hasina has turned to India, eyeing a $1 billion financing plan for the Teesta River redevelopment project. Should India embrace this initiative, it would mark a significant diplomatic and financial breakthrough. The reservoirs and irrigation systems envisaged could resolve long-standing water-sharing disputes, while enhanced economic zones and waterway connectivity could link ports like Chittagong to India, yielding substantial financial benefits for both nations.
Yet, this manoeuvre warrants careful scrutiny. Historically, India has shown magnanimity in water-sharing agreements, but it must now balance regional goodwill against domestic imperatives. In West Bengal, there is considerable disquiet over the Teesta allocations. Given that 87 per cent of the river lies within Indian borders, overly generous concessions could deplete India's own water resources and incite political backlash.
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