G20 summit held in India for two days from 9-09-2023 to 10-09-2023 under the Indian presidency chaired by Narendra Modi, Prime Minister in Newly built Bharat Mandapam at New Delhi, India.
All G20 heads attended the meeting except Russian President Vladimir Putin (represented by his foreign Minister) and China President Xiping (represented by his prime minister). Russian president could not attend as Ukraine conflict is going on, but Chinese president wantedly skipped this G20 meeting for first time as he thought that India was his adversary.
Huge Nataraj statue was installed at the entrance of this Bharat Mandampam. For the first time, African union was made permanent member to this G20 under Modi. Modi took this meeting as prestigious one as he wants to show his stature as world leader and to his luck, India is growing at rapid pace, whereas china is declining.
India-Middle East-Europe Economic Corridor Alternate to China’s BRI was signed in this G20
Following the announcement, President Biden remarked, “The world stands at an inflection point in history. A point where decisions we make today are going to affect the course of our future—all of our futures for decades to come. A point where our investments are more critical than ever.”
A fact sheet released by the White House outlined the new corridor’s objectives, which include establishing railway and sea connectivity between Europe, the Middle East, and Asia. This ambitious initiative aims to connect commercial hubs, support the development and export of clean energy, lay undersea cables, expand energy grids and telecommunication lines, promote clean energy technology, and enhance Internet access for communities, ensuring stability and security.
The India-Middle East-Europe Economic Corridor is expected to attract additional Asian countries, boosting manufacturing, food security, and supply chains within its sphere of influence. According to the MoU, the corridor will consist of an east corridor linking India to the Arabian Gulf and a northern corridor connecting the Arabian Gulf to Europe.
It will feature a railway network designed to provide reliable and cost-effective cross-border ship-to-rail transit, complementing existing maritime and road transport routes. This railway route, primarily traversing the Middle East, includes plans for laying electricity cables and clean hydrogen pipelines.
Further details on transit routes, coordination bodies, and technical aspects will be discussed by the signatories over the next sixty days as they develop an action plan.
Indian government sources emphasised the importance of consultative, transparent, and participatory connectivity initiatives while respecting the sovereignty and territorial integrity of all countries involved.
“Principles of financial responsibility and economic viability to avoid creation of unsustainable debt burden to recipients and conforming to ecological & environmental standards must be followed,”
