G20 Summit 2023: G20 summit being held in India (G20 Summit 2023) Many big announcements were made on Saturday (September 9) on the first day. During this time, India announced a big infrastructure deal with America and many major economies. Due to which India is going to benefit a lot. On the first day of the summit, Indian Prime Minister Narendra Modi and US President Joe Biden announced the India-Middle East-Europe Corridor.
This is a historic and first-of-its-kind initiative on cooperation on connectivity and infrastructure involving India, Saudi Arabia, EU, France, Italy, Germany, UAE, and the US. In this, focus will be on rail corridors and ports. Overall, work will be done to increase connectivity from India to the Middle East and from there to Europe through a rail corridor and ports.
‘This project will give a new direction to connectivity‘
After the announcement of this infrastructure deal, Prime Minister Narendra Modi said that this project will give a new direction to connectivity and sustainable development. According to him, this corridor will soon serve as a powerful tool for the economic integration of India, the Middle East and Europe. Additionally, while promoting connectivity initiatives PM Modi Emphasized on respecting the territorial integrity and sovereignty of all countries.
‘This is a game-changing investment for America’
At the same time, US President Joe Biden (Joe Biden) said the country would invest in a new rail line that would run from Angola to the Indian Ocean. He highlighted the US’s commitment to investing in a new rail line stretching from Angola to the Indian Ocean, calling it an important step to boost job creation and increase food security globally. He predicted that the term ‘economic corridor’ would gain prominence in the coming decade. He called it “a huge deal” and a “game-changing investment” for the US.
‘The journey will be completed 40% faster’
Similarly, Saudi Arabia’s Crown Prince Bin Salman said that Saudi Arabia is looking forward to the implementation of this initiative. All countries will benefit from this initiative. At the same time, European Union President Ursula von der Leyen said that this will be the most direct link between the Middle East and Europe. As a result, the journey will be completed 40% faster. This will be a big and important project in terms of connectivity between these countries.
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