India signs rail, port connectivity agreement with US, UAE, Saudi Arabia at G20 Summit
| 2023-09-10
PM Modi with US President Biden and other global leaders at the event marking announcement of IMEC in New Delhi on Sept 9
Shipping and rail transport corridor linking South Asia with Middle East and Europe is expected to promote economic integration between India, Gulf and Europe
Marking a new chapter in the history of international connectivity, India, the US, Saudi Arabia, the UAE, the European Union, Italy, France and Germany on Saturday signed an agreement for an India-Middle East-Europe Economic Corridor (IMEC) on the sidelines of the G20 Summit in New Delhi.
The agreement aimed at “unlocking greater investment for infrastructure development and strengthening connectivity in its various dimensions between India, Middle East and Europe,” the Ministry of External Affairs said in a statement on September 9.
The IMEC comprises an Eastern Corridor connecting India to the Gulf region and a Northern Corridor connecting the Gulf region to Europe. It will include a railway and ship-rail transit network and road transport routes, the MEA added.
Speaking on the occasion, Prime Minister Modi said robust connectivity and infrastructure serve as the foundational pillars for the advancement of human civilization. “India has accorded utmost priority to these domains in its developmental voyage,” he said.
While highlighting the importance of physical, digital and financial connectivity, the Prime Minister said the IMEC would help promote economic integration between India and Europe. He also said that through these efforts, “we are laying the foundation of a developed India.”
“As a reliable partner in many countries of the Global South, we have implemented infrastructure projects in areas such as energy, railways, water, technology parks, and more. Throughout these endeavours, we have placed a particular emphasis on a demand-driven and transparent approach,” he added.
The Prime Minister said India does not measure connectivity with regional boundaries.
“Increasing connectivity with all regions has been India’s main priority. We believe that connectivity is a source of increasing not only mutual trade but also mutual trust between different countries,” Prime Minister Modi noted.
Earlier, the event marking signing of the India-Middle East-Europe Economic Corridor (IMEC) on the sidelines of the G20 Summit, saw the presence of leaders from India, the US, the European Union, France, Germany, Italy, Mauritius, the UAE and Saudi Arabia, the MEA said.
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