In a groundbreaking move, world leaders revealed plans for a massive rail project stretching from India to Europe. The India-Middle East-Europe Economic Corridor, as stated by the White House here, aims to usher in an era of enhanced global connectivity.
This initiative, announced during the G-20 summit in New Delhi, India, represents a collaboration between the U.S., India, France, Germany, Saudi Arabia, the UAE, Italy, and the European Union.
The project encompasses two development corridors: one connecting India to the Middle East and another linking the Middle East to Europe.
“This landmark corridor is poised to drive economic development by fostering improved connectivity and integration across two continents, thereby unlocking sustainable and inclusive growth,” asserts the White House in a statement.
In a signed memorandum of understanding available here, project partners commit to establishing rail connections between commercial hubs, reinforced by new infrastructure for internet, power, and hydrogen. Furthermore, the memorandum outlines plans to incorporate the industrial sectors of Jordan and Israel into the project.
It remains ambiguous whether Iran, located along the India-Middle East route, will participate in the venture. Alternative routes traversing Afghanistan and Russia also present connectivity possibilities between the regions.
To establish a rail link from India to the west, the project would require the involvement of Pakistan.
The memorandum emphasizes that this corridor aims to enhance efficiency, reduce costs, promote economic unity, generate employment opportunities, and decrease greenhouse gas emissions. Ultimately, it seeks to transform the integration of Asia, Europe, and the Middle East.
Within the next two months, the participating nations intend to develop an action plan for implementing the project.
During the G-20 summit, Indian Prime Minister Narendra Modi also announced that the African Union will become the group’s 21st permanent member. Additionally, India revealed a new global biofuels initiative.
Copyright 2023 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Denial of responsibility! Vigour Times is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
