- PM Modi said india’s G20 presidency has become a symbol of inclusion, both inside and outside the country.
- In a big win for India’s G20 Presidency, a consensus was reached and the Delhi Declaration has been adopted at the mega Summit.
- PM Modi Announces IndiIa-Middle East-Europe Corridor
- The corridor would help to boost trade, transport energy resources and improve digital connectivity.
- “The new India-Middle East-Europe Economic Corridor is a game-changing regional investment,” US President Joe Biden said.
- “The India-Middle East-Europe Economic Corridor is nothing but historic,” European Commission President Ursula von der Leyen said.
In a big win for India’s G20 Presidency, a consensus was reached and the Delhi Declaration has been adopted at the mega Summit, Prime Minister Narendra Modi announced today. The Prime Minister had earlier called for turning the “global trust deficit” into a relationship of trust as he welcomed world leaders to the G20 Summit in Delhi.
PM Modi said India’s G20 presidency has become a symbol of inclusion, both inside and outside the country. The theme of this year’s Summit under India’s Presidency is “Vasudhaiva Kutumbakam” or “One Earth – One Family – One Future”.
“Along with physical infra, social, digital, and financial infra have seen massive investment. We have a demand-driven approach. This will help reduce the infra gap in the Global South. It will increase connectivity among nations and will help increase trust,” Prime Minister Narendra Modi said, announcing the India-Middle East-Europe Corridor. This new trade route will be a counter to China’s Belt and Road Initiative.
“The new India-Middle East-Europe Economic Corridor is a game-changing regional investment,” US President Joe Biden said.
“The India-Middle East-Europe Economic Corridor is nothing but historic,” European Commission President Ursula von der Leyen said.
PM Modi and his allies on Saturday announced plans to build a rail and shipping corridor linking India with the Middle East and Europe, an ambitious project aimed at fostering economic growth and political cooperation. “This is a big deal,” said Biden. “This is a really big deal.”
The corridor would help to boost trade, transport energy resources and improve digital connectivity. It would include India, Saudi Arabia, the United Arab Emirates, Jordan, Israel, and the European Union, said Jake Sullivan, Biden’s national security adviser.
Indian Prime Minister Narendra Modi, Biden, and European Commission President Ursula von der Leyen announced the project during the annual Group of 20 summit of the world’s top economies. It is part of an initiative called the Partnership for Global Infrastructure Investment.
“We think that the project itself is bold and transformative, but the vision behind the project is equally bold and transformative, and we will see it replicated in other parts of the world as well,” Sullivan said.
(With inputs from agencies)
