Mumbai: Amid the ongoing G20 Summit, Prime Minister Narendra Modi on Saturday said an India-Middle East-Europe connectivity corridor for economic integration would be launched soon.
The project is aimed at connecting India, Europe, and the Middle East through a network of railways and sea routes. Also Read: G20 Leaders Arrive At Consensus, Delhi Declaration Adopted: PM Modi
PM Modi stated during the opening of the corridor that it will provide connectivity and sustainable development in a new direction. He predicted that the corridor would eventually serve as a powerful tool for the economic fusion of India, the Middle East, and Europe. Also Read: Pic Shows ‘Bharat’ Written On Nameplate As PM Modi Delivers Speech At G20 Summit
The corridor’s opening was praised by PM Modi, who also claimed that a “historic” accord had been reached. “In the near future, it will be a useful tool for integrating the economies of India, West Asia, and Europe. This will provide connection and global growth a sustainable direction,” he said. Also Read: African Union Becomes Permanent Member Of G20 As Summit Starts In Delhi
The prime minister emphasized that strong infrastructure and connection are the cornerstones of the growth of human civilization, adding that “India has given connectivity and infrastructure top priority in its development journey.”
At the launch of the corridor, US President Joe Biden said, “This is a real big deal. I want to thank Prime Minister Modi. Building sustainable, resilient infrastructure, making quality infrastructure investments and creating a better future… Last year, we came together as one to commit to this vision.”
Additionally, Ursula von der Leyen, president of the European Commission, described the launch as “historic”.
According to news agency AFP, the corridor would connect ports and trains in countries around the Middle East, including the United Arab Emirates, Saudi Arabia, Jordan, and Israel.
The initiative might increase commerce between Europe and India by up to 40%.
According to Pramit Pal Chaudhuri, head of the South Asia practice at the Eurasia Group, “a shipping container that currently travels from Mumbai, through the Suez Canal to Europe, could go by rail from Dubai to Haifa in Israel, and then to Europe.”
He claimed that time and money would be saved if his forecast came true.