During the ongoing G20 Summit in New Delhi, the possibility of announcing a shipping and railway corridor connecting Western Asia, South Asia, and Europe is being considered. A White House official stated that the United States, India, Saudi Arabia, the United Arab Emirates, the European Union, and other G20 participating nations are prepared to explore the establishment of a shipping and railway corridor. The objective is to facilitate the flow of trade, energy, and data from India to Europe via the Middle East.
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White House National Security Adviser Jake Sullivan says that discussions are underway for the possibility of announcing a Memorandum of Understanding (MOU) in a meeting centered on the global foundational infrastructure apart from other issues before the global community. Leaders are convening to discuss challenges to the global economy and supply chains among other global issues. Following the agreement, it could be seen as an alternative supply chain in the post-pandemic global economy.
The project will be executed in a transparent manner
He said that President Biden and Prime Minister Modi will also meet with other leaders for a program focused on the global foundational infrastructure, which will benefit low- and middle-income countries in the region and play a significant role in the global economy, especially for the Middle East. Finer stated, “This deal is not being forced; we see it as being mutually beneficial and of high utility to these countries and globally because it is transparent.”
He added, “It’s not just a railway project; it’s a shipping and railway project, and it’s important for people to understand how expansive, ambitious, and groundbreaking it will be.