The US, Saudi Arabia, India, and other nations are discussing a potential infrastructure deal to enhance trade between the Gulf and South Asia through railways and ports, in an effort to counter China's Belt and Road initiative.
Global leaders have announced a multinational rail and ports deal at the G20 summit in New Delhi, aiming to connect the Middle East and South Asia and provide an alternative to China's Belt and Road initiative.
US President Joe Biden described India's plan to build a rail and shipping corridor linking India with the Middle East and Europe as a "game-changing investment" during the G20 Summit, aiming to boost trade, transport energy resources, and improve digital connectivity.
India, along with the US, EU, Saudi Arabia, and UAE, has signed a deal to establish the India-Middle East-Europe Economic Corridor (IMEE EC) as an alternative to China's One Belt One Road (OBOR) initiative, aiming to provide faster and cheaper transportation options to west Asia and Europe.
The India-Middle East-Europe Economic Corridor (IMEC), considered an alternative to China's Belt and Road Initiative, is being hailed as the "largest cooperation project in our history" by Israeli Prime Minister Benjamin Netanyahu, who believes it will reshape the Middle East and benefit the entire world.
The proposed India-Middle-East-Europe Corridor, seen as a rival to China's Belt And Road Project, will be a bankable project that brings in revenue and avoids the debt trap, according to Railway Minister Ashwini Vaishnaw.
Israel is set to become a global transportation hub as it plays a crucial role in the proposed India-Middle East-Europe Economic Corridor, which will connect the three regions through rail, gas, and fiber optics lines.
The announcement of the Indian-Middle Eastern Economic Corridor at the G20 Summit will bring global attention to the ancient Red Sea trade route, as mentioned in Scottish historian William Dalrymple's book "The Golden Road."
A new multibillion-dollar rail and shipping corridor called the India-Middle East-Europe Economic Corridor was announced at the G20 summit, which aims to enhance connectivity and integration between participating countries and boost economic growth in the Middle East.
A new ports and railway corridor for the Middle East and South Asia, which includes train links to India, has been unveiled at the G20 summit in Delhi as a response to China's Belt and Road Initiative.
Turkey is seeking an alternative to the India-Middle East trade corridor plan and is in talks for the Iraq Development Road initiative in order to strengthen its role as a trade route.
Saudi Arabia's Crown Prince Mohammed bin Salman's attendance at the recent G20 summit in India, along with its inclusion in the China-dominated BRICS coalition and signing of the ship-to-rail economic corridor supported by President Joe Biden, highlights the complex web of alliances and economic opportunities arising from the rivalry between the US and China. These developments show the various economies caught between the two powers seeking to build their own strategic alliances and spheres of influence.
