New Delhi, September 9, 2023, (Tamsil Shahezad Khan): In a groundbreaking announcement at the G20 Summit 2023 in Delhi, Prime Minister Narendra Modi revealed the launch of a transformative economic initiative: the India-Middle East-Europe mega economic corridor. This ambitious project is set to redefine economic integration between India, West Asia, and Europe.
Addressing the gathering of world leaders, Prime Minister Modi hailed the partnership as historic and pivotal for future economic cooperation. He stated, "Today we all have reached an important and historic partnership. In the coming times, it will be a major medium of economic integration between India, West Asia, and Europe." The corridor involves collaboration between India, the UAE, Saudi Arabia, the European Union, France, Italy, Germany, and the United States.
This momentous announcement comes alongside another significant development as PM Modi declared the adoption of a consensus declaration on key issues facing the G20. "On the back of the hard work of all the teams, we have received consensus on the G20 Leaders Summit Declaration. I announce the adoption of this declaration," Prime Minister Modi affirmed to the G20 leaders in New Delhi.
The summit, inaugurated by Prime Minister Modi, emphasized the need to address a "global trust deficit." In a bid to make the G20 more representative, India extended permanent membership to the African Union. Prime Minister Modi urged unity, saying, "Today, as the president of G20, India calls upon the entire world to first convert this global trust deficit into one trust and one confidence. It is time for all of us to move together."
However, the summit takes place against a backdrop of divisions within the group. Disagreements persist over critical issues, including the Russia-Ukraine war and China's expanding influence in the Indo-Pacific and the South China Sea. Last year's Summit in Indonesia highlighted the group's differences over the Ukrainian conflict, where the declaration acknowledged varying opinions despite condemning Russia's invasion.
As the G20 Summit 2023 continues, the world watches closely to see how leaders navigate these complex challenges and foster global cooperation. The India-Middle East-Europe mega economic corridor is poised to play a central role in reshaping the economic landscape and forging new partnerships on the international stage. Stay tuned for more updates as the summit unfolds.
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