World Leaders Announce India Middle East Europe Economic Corridor As Major Infrastructure Deal – BW Businessworld
The United States, India, Saudi Arabia, the United Arab Emirates, the European Union and other G20 partners are set to explore the shipping and rail transportation corridor in the form of the ‘India-Middle East- Europe Economic Corridor’. The project will be historic in the sense that it involves countries like UAE, Saudi Arabia, EU, France, Italy, Germany, the US and India.
The project was announced by US President, Joe Biden, Indian Prime Minister Narendra Modi and European Commission President Ursula von der Leyen as a part of the initiative called the Partnership for Global Infrastructure Investment.
The US President called it a game-changer and a big deal. The corridor would help to boost trade, transport energy resources and improve digital connectivity.
“The ‘India-Middle East-Europe’ economic corridor is historic. It will be the most direct connection to date that will make trade faster,” said Ursula von der Leyen, European Commission President.
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