07-11-2023 | 17:39 PM
The US President has said that the ambitious India-Middle East-Europe Economic Corridor is one of the reasons for Hamas terrorist attack on Israel.
Key Highlights:
• 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.
• During the Delhi G20 Summit, India, USA, UAE, Saudi Arabia, France, Germany, Italy and the European Union signed a Memorandum of Understanding (MoU) to establish the India-Middle East-Europe Economic Corridor.
• The India-Middle East-Europe Economic Corridor will consist of two separate corridors, the East corridor connecting India to West Asia/Middle East and the Northern corridor connecting West Asia/Middle East to Europe.
• The project would involve the building of a railway line across the Arabian Peninsula through the United Arab Emirates and Saudi Arabia and develop shipping connectivity to India and Europe on either end of this corridor.
• The corridor could be further developed to transport energy through pipelines and data through an optical fiber link.
