Speaking at the G20 Summit in Delhi, US President Joe Biden called the newly-launched India-Middle East-Europe Corridor a “really big deal” that would prove to be a “game-changing investment.”
“This is a big deal, a real big deal,” Biden said as he thanked Prime Minister Narendra Modi at the launch event of the ‘Partnership for Global Infrastructure and Investment’ and ‘India-Middle East-Europe Economic Corridor’ during the Summit.
The Economic Corridor will connect India with the Middle East and Europe and will aim to undertake economic growth as well as political cooperation.
“I want to thank PM. One Earth, One Family, One Future that’s the focus of this G 20 Summit. And in many ways, it’s also the focus of this partnership that we’re talking about today,” the US president said.
“Building sustainable, resilient infrastructure, making quality infrastructure investments and creating a better future…” he added.
Biden said that last year the countries came together as one to commit to this mission, and that today US and its partners are a part of it to make this a reality.
“As key part of this corridor, we are investing in ships and rails, that extends from India to Europe connected by the UAE, Saudi Arabia, Jordan and Israel. It will make it far easier to trade. I want to thank sponsors and particularly Prime Minister Modi and (Saudi Crown Prince) Mohammed bin Salman,” Biden said.
“Economic corridor, you’re going to hear that phrase more than once, I expect, over the next decade. As we work to address infrastructure gaps across low-middle-income countries, we need to maximize the impact of our investments,” Biden highlighted.
This comes as plans for an ambitious India-Middle East-Europe Economic Corridor were unveiled on Saturday with Prime Minister Narendra Modi asserting that India does not limit connectivity to regional borders and believes that it can play a key role in strengthening mutual trusts.
At the event, PM Modi said today “we all have reached an important and historic partnership”.
He said in the times to come, it will become an effective medium for economic integration of India, the Middle East and Europe. “It will give a new direction to connectivity and sustainable development of the entire world,” the prime minister said.
“We are laying a strong foundation for a developed India. Through PGII (Partnership for Global Infrastructure and Investment), we can play a key role in filling infrastructure gap in Global South countries. India does not limit connectivity into regional borders. We believe connectivity can also play a key role in strengthening mutual trust,” he said.
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