Recently India hosted the G-20 summit on September 9th and 10th in New Delhi. This was quite special because India hosted the G-20 summit for the very first time as a presidential chair. Prime Ministers from many countries participated in this event. The G-20 is basically a group of twenty international forums consisting of 19 individual countries and the European Union. At this summit, the heads of different countries discussed different economic issues. The main theme of this summit was based on “वसुधैव कुटुम्बकम्” which signifies “One Earth, One Family, One Future,”.
This summit provided a platform for discussion on several issues like international cooperation, financial stability, food security, climate and energy, development, health, digitalization, debt reform, geopolitical uncertainties, loans to developing nations, cryptocurrency regulation, etc.
This event was very special for India because this summit was hosted by our country. That was the reason one of the main focus areas of this summit was geographic tension, climate change, and recovery after COVID-19. Leaders or Prime Ministers of different countries like the United States, China, India, Russia, etc. gathered together and discussed how to deal with global challenges. In this summit climate change was the main topic. During the discussion they decided to promote clean energy, they also discussed enhancing global climate resilience and reducing carbon emissions.
India Middle East Europe Corridor Launched
During the G20 summit held in New Delhi, Our country launched the India Middle East Europe Corridor. According to our honorable Prime Minister, this project will lead to a new direction for connectivity and sustainable development. Apart from that, this project will not only boost the friendship between India, the Middle East, and Europe but it will also attempt to boost trade ties. Prime Minister Narendra Modi and other leaders of different countries launched this iconic project of the India-Middle East-Europe connectivity corridor at the G20 summit held in New Delhi.
India is developing day by day and also increasing international friendships by launching new projects in partnership with different countries. It is for your information that this corridor will not only increase international trade but could be an alternative to China’s Belt and Road project, which has left a host of small developing countries like Pakistan, Kenya, Laos, Mongolia, and Zambia in deep debt. US President Biden called this move “a real big deal”. The President of France committed to invest in the corridor. This will be the first initiative on cooperation on connectivity and infrastructure involving India, USA, EU, UAE, Saudi Arabia, France, Germany, and Italy.
This project will involve transit by ship between India and Saudi Arabia followed by a rail link to the UAE and likely to Jorden where the shipment will move by sea to Turkey. After reading Turkey it will further move by rail. According to Government sources, the India- Middle East-Europe economic corridor will consist of two separate corridors. Where the Easter Corridor will connect India to West Asia/Middle East. On the other hand, the Northern Corridor will connect West Asia/Middle East to Europe.
This project will include a rail line that will provide a reliable and cost-effective cross-border ship-to-rail transit network to supplement the existing multi-modal transport routes. These multi-modal transport routes will enhance the transmission of different goods and services between South East Asia through India to West Asia/Middle East and Europe. It is also said by Government sources that this project will provide faster as well as cheaper transit options. This project is beneficial for us as well as the partner countries because this will surely boost our trade and exports.
One of the best things about this India Middle East Europe Corridor is that this will secure supply chains so that international trade will increase. Apart from that it will also generate job opportunities and will improve trade facilitation and accessibility.
Our honourable Prime Minister Mr. Narendra Modi said on this project that ” Connectivity with all regions is India’s priority today. We all have witnessed a significant and historic agreement come to fruition. In the coming year, This will prove to be a medium of economic integration between India, West Asia, and Europe. The United States of America, India, Saudi Arabia, the EU, and UAE have signed this ambitious agreement and launched the partnership of global infrastructure investment of India Middle East Europe corridor program.
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This project will not only increase trade and connectivity across countries but it will also boost the friendship between these countries. According to US officials, “the planned mega infrastructure project will connect West Asia with India and Europe. This project was one of the most important deals between the countries. The concept involves the development of railway lines within the Middle East, creating transportation links that will not only increase international trade but also it will connect India and Europe through sea routes on either side.
Benefits of India Middle East Europe Corridor
- It will promote and increase trade activities between the involved countries.
- It aims to develop environmentally friendly infrastructure.
- It supports and increases the friendship between involved countries.
- It aims to provide a better alternative to the Chinese Belt and Road initiative.
- In the long run, this project will lead to economic growth and development in India.
- It will generate economic benefits like jobs, economic growth, environmental quality, economic resilience, etc.
According to government sources, the corridor would have an eastern leg from India (Mudra or Mumbai) to Fujairah or Jebel Ali ports in UAE. Jebel Ali is one of the largest and most efficient ports in the world. The Jebel Ali port has an advantage as it is the hub of trans-shipment. On the other hand, the land route of the corridor would see containers moving by rail from Fujairah to Israel’s Haifa port situated on the Mediterranean coast. All the involved regions are ready to work on this project as they are expecting global growth and development from this project that launched in the iconic event “G20” hosted by the most incredible country in the world.