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Italy's BRI membership was due to renew automatically in March 2024 before it officially notified China that it was withdrawing from the initiative by 2023-end.
Italian PM Giorgia Meloni had previously signalled Italy's intention to withdraw from the agreement, which was up for renewal.
Why did China launch the project and how does it stand at present? How has India responded to it? Gulshan Sachdeva, who is a Professor at the Centre for European Studies and Coordinator of the Jean Monnet Centre of Excellence, at Jawaharlal Nehru University, explains.