New Delhi: A Railway link through ports connecting India (Asia), the Middle East, and Europe was launched on Saturday at G20 Leaders’ Summit in New Delhi.
The mega infrastructure project has been called India-Middle East-Europe Economic Corridor and is being seen as an attempt by the US-led countries’ attempt to counter China’s influence in the region.
The leaders of the United States, India, Saudi Arabia, the United Arab Emirates, France, Germany, Italy and the European Union announced a Memorandum of Understanding committing to work together to develop the mega project.
The proposed corridor is expected to stimulate economic development through enhanced connectivity and economic integration across two continents, thus unlocking sustainable and inclusive economic growth.
“Through the India-Middle East-Europe Economic Corridor, we aim to usher in a new era of connectivity with a railway, linked through ports connecting Europe, the Middle East, and Asia.
The United States and our partners intend to link both continents to commercial hubs and facilitate the development and export of clean energy; lay undersea cables and link energy grids and telecommunication lines to expand reliable access to electricity; enable innovation of advanced clean energy technology; and connect communities to secure and stable Internet,” said an official release from the White House.
It further said, “Across the corridor, we envision driving existing trade and manufacturing and strengthening food security and supply chains. Our approach aims to unlock new investments from partners, including the private sector, and spur the creation of quality jobs.”
Hailing the move, Prime Minister Narendra Modi said that the India-Middle East-Europe Economic Corridor promises to be a beacon of cooperation, innovation, and shared progress charting a journey of shared aspirations and dreams.
“Charting a journey of shared aspirations and dreams, the India-Middle East-Europe Economic Corridor promises to be a beacon of cooperation, innovation, and shared progress. As history unfolds, may this corridor be a testament to human endeavour and unity across continents,” he wrote on ‘X’.