 You know, you operate in a part of the world that most people do not operate. That is, in the one terrestrial belt between China and Eastern Europe. As far as I can tell, I just came back from Africa where I go every year. One of the last developed, and less developed part of the world is really the Osil Road. Whereas historically it was very advanced, but today through colonialism and otherwise, Africa, Latin America, they are all rather developed. The only part that is perhaps the least developed, and I've been there many a times, is between Kazakhstan, Kyrgyzstan, Uzbekistan, Turkmenistan, all the way to Georgia and Armenia and so forth. You operate in there. What do you think about the Belt and Road Initiative? It wasn't started by Russia. Your adopted country is not started by India, although they are welcome to join. You see opportunities. What are the problems? Are you suspicious of China's intention or what? Tell us, please. Shift camera. Thank you very much, Rony. Thank you, first of all, for inviting me here. It's a delight to be here, my first time to Morocco and a beautiful country. I'd like to give two perspectives. One is a perspective as someone working in Russia and understanding the Russian mindset and the Central Asian mindset, and the second thing is as an Indian and how we see it from an Indian perspective. I lead India's engagement with the Shanghai Cooperation Organization as the leader of the Indian business delegation there, and so I see this slightly two views of the Belt and Road, One Belt, One Road Initiative. From the Russian perspective, the West in the last 15 years, or really especially since sanctions in 2014, has really pushed Russia eastwards and pushed Russia to a much more sinocentric view of the world. That has meant that Russia today sees One Belt, One Road as a tremendous opportunity for Russia to encourage growth within Russia to create greater connectivity with Asia and a viable strategy to engage with the East rather than its predominant strategy which was always to engage more with the West. And I think examples of that are very specific. So $46 billion of money has now been invested in Belt and Road related projects, $46 billion. The Amur Bridge is now being completed, although it was stored for many years. A rail corridor has been created, the UTLC, a freight land bridge basically, which starts in Dostik in Kazakhstan on the border of China and ends up in Kaliningrad. And it's owned by the Belarus government, Kazakhstan government and Russian government state-owned railway companies, one-third each. They plan to transport one million containers by 2025 from a start of about, right now they're doing about 176,000 containers, so very fast growth. The Russia-China Investment Fund has been created between RDIF and CIC in China, $2 billion fund. And the two big projects, the Russians and the Chinese are working on now. And obviously with Central Asia all tagging along as part of the Eurasian Economic Union are the Renminbi Fund, a fund which will not use dollars or euros, which will be effectively between Renminbi and Rubles to be able to invest in that region, as well as a polar silk route as the Arctic ice cap is melting, transporting LNG from Yamal to China using the Arctic polar silk route is another project that's being studied very deeply and I think may well become a reality. That's the Russian perspective. As something that the Belt and Road Initiative is something that's encouraging investment, encouraging growth, encouraging connectivity and actually is a wonderful good thing to do. And of course there's geopolitics attached, which will be there, but it's good because both sides are connected in a positive manner to that. There's obviously some strategic hesitation historically between China and Russia and that is now reducing due to this connectivity and encouragement and also lack of strong relationship with the West. India, on the other hand, has a much more cautious view of Belt and Road Initiative. The Chinese have invested $62 billion in something called the China-Pakistan Economic Corridor. It's the largest single Belt and Road Initiative project and it goes through disputed territory in Pakistan occupied Kashmir. 21 power stations are being built, roads are being built, railways are being built, a huge international airport and a huge international port. The telecoms, including a GPS system, has been put in their Baidu, which is the Chinese version of GPS or Galileo or GLONASS has been already installed there and is already working. All of this makes India nervous. Similarly, the Chinese have invested $31 billion in infrastructure or committed to invest $31 billion into Bangladesh. In Sri Lanka they have started a port which then due to the port being unable to function adequately has now been taken over by the Chinese due to unsustainable debt load. That's a $1.3 billion project which the Chinese now have taken under a 100-year lease. So this encirclement of India, while at the same time Belt and Road has had no appreciable investment in India, no connectivity with India, no money has been invested in India, makes India feel actually that this is really a strategic encirclement strategy, a containment strategy for India's growth over the next 20 to 30 years. And this has made India nervous and is kind of therefore it shows you the two sides of it. Malaysia of course has taken a more even a more aggressive position with when Prime Minister Mahathir was in China a couple of months ago, he cancelled $3 billion of Belt and Road projects. He put $20 billion of Belt and Road projects on suspension due to a fraud investigation against 1MDB, the big financial institution which collapsed, and accused China very bluntly of a new form of colonialism, a neocolonialism which was obviously not received well by the Chinese. I think the truth lies between those two extremes and I think that from my point of view as a very personal opinion, I welcome the Belt and Road initiative as a chance to bring necessary infrastructure to the planet. It's great to see someone taking leadership on that. The question is under what rules will that investment be made? Will it be made on the basis of a multilateral rules based system or will it be a purely Sino-centric system where all legal disputes are resolved in Shenzhen and Xi'an as it is at the moment? Thank you. Chef, let me ask you a question. You rightly say that China has not put any money in India. I suppose India may be suspicious if China were to put the money into India. If China were to propose to India and say, can we jointly do a project such as the one in Kazakhstan or the rail link, do something together in India, do you think that India will be amenable to that? So I have personally been involved, Rony, in many discussions between Chinese companies and the Indian government and Indian partners. And what we have seen time and again is Chinese companies come, they study everything, they talk a lot of interesting things, but when it comes down to actually investing and doing something, nothing happens. And so this has created an atmosphere of really it's more of an expedition to analyze and understand and study rather than to actually do anything. Now obviously there is some hesitation on the Indian side as well for strategic assets, some port source, other things might be, but I think it's extremely important for China and India to really engage. And I think our Prime Minister's recent visit, which was a visit to meet with the Chinese Premier, was extremely good. The meeting went extremely well. And I think there's a thawing and a warming of the relationship, I would even say. And I think it's a great opportunity for the two countries with the largest population on the planet to actually show the world what it means to take leadership on a planet where leadership is solely lacking, unfortunately. I await that day, Shiv. Let's hope that it will happen. I used to serve in two American companies boards. Both of them have businesses in India and I was personally as a director, sued in every case. And I have looked into the opportunities in India myself or my family. We haven't done a thing. A lot of my family have not either. I'm hopeful that Modi, who I believe doing something good in the economic area, will be able to change some situation such that there will be a lot more incoming investment.