G20 Summit: An imminent launch of the India-Middle East-Europe economic corridor, encompassing both maritime and railway connections, marks a significant historic endeavor in enhancing connectivity and infrastructure across numerous nations.
New Delhi: An upcoming initiative called the ‘India-Middle East-Europe’ economic corridor, which involves shipping and railway connections, is set to launch soon. This historic project will enhance cooperation in infrastructure and connectivity and includes India, the UAE, Saudi Arabia, the EU, France, Italy, Germany, and the US, as announced by President Biden, Indian Prime Minister Narendra Modi, and European Commission President Ursula von der Leyen during the G20 summit.
According to a White House report, the railway deal will create a link between shipping and rail lines connecting India to Europe through the UAE, Saudi Arabia, Jordan, and Israel. Ursula von der Leyen, European Commission President, praised the corridor as a significant development that will expedite trade, making it 40% faster between India and Europe. She described it as a “green and digital bridge across continents and civilizations,” emphasizing its inclusion of electricity and data transmission cables.
This ambitious project aims to foster economic growth and political cooperation by boosting trade, improving energy resource transport, and enhancing digital connectivity. It involves India, Saudi Arabia, the UAE, Jordan, Israel, and the European Union, with the goal of transforming the Middle East into an economic hub. The project has been in the works since conversations began in January, with efforts to finalize details and involve Israel and Jordan in the initiative. Saudi Arabia and Israel, despite lacking diplomatic relations, have been encouraged to normalize relations in this context.