"The new partnership will connect India to Europe with the Middle East and Israel with transportation by rail and by shipment through energy supplies and digital connections that are going to open up untold opportunities for transformative economic investment on that entire corridor," the
Finer said the India-Middle East-Europe economic corridor will create a novel interconnected corridor to facilitate global trade, expand reliance access to electricity, facilitate clean energy distribution and strengthen telecommunication links.
The negotiations to arrive at the New Delhi declaration which was adopted by G20 leaders were “cumbersome” but it was in line with our discussions, said a European Union official familiar with the negotiations. The official said the EU was “satisfied with the text”
With respect to the India-Middle East-Europe Economic Corridor which has come into being at the G20 Summit in New Delhi on Saturday, US President Joe Biden has said that it is a "game-changing" regional investment.
In a historic development, the New Delhi Declaration was adopted on Saturday by the leaders of the G20 leaders during the Leader’s Summit here in the national capital.
Prime Minister Narendra Modi on Saturday said the India-Middle East-Europe Economic Corridor promises to be a beacon of cooperation, innovation and shared progress.
The corridor will encourage and provide impetus to economic development through enhanced connectivity and economic integration between Asia, West Asia, the Middle East and Europe, as per sources.
"Prime Minister appreciated Italy’s support for India’s G20 Presidency and Italy’s joining of the Global Biofuel Alliance and the India - Middle East - Europe Economic Corridor," an official statement issued by the Prime Minister Office (PMO) said.
European Commission President Ursula von der Leyen on Saturday called the new economic corridor "historic" and said that these are state-of-the-art connections for the world of tomorrow, faster, shorter and cleaner.