Topic: GS2 – International relations.
G-20 Summit Under India’s Presidency:
- The 2023 G-20 summit was held under India’s presidency in early September.
- India’s success at the summit was noted for addressing complex global issues.
- Achievements included the inclusion of the African Union in the G-20 and an offer of clean energy through a biofuel alliance.
- The Delhi Declaration, a joint statement, is significant in the context of global power struggles.
- It refrains from naming Russia for aggression against Ukraine but emphasizes the UN charter and territorial sovereignty.
- The statement was crafted to satisfy the interests of all member nations.
India-Middle East-Europe Economic Corridor:
- A major outcome of the summit was the announcement of the “India-Middle East-Europe Economic Corridor.”
- This corridor involves a rail-ship route to transport goods from India to Europe via the United Arab Emirates-Saudi Arabia-Jordan-Israel.
- It has transformative potential in geopolitics and challenges China’s Belt and Road Initiative.
- S. President Joe Biden described it as a “real big deal.”
Israel’s Role and Absence:
- Israel, a strategic partner for India and a participant in the economic corridor, was not explicitly mentioned in the announcement.
- Israel’s Prime Minister Benjamin Netanyahu thanked President Biden but did not mention Prime Minister Modi.
- These incidents highlighted the need to address Israel’s issues with India-Middle East-Europe Economic Corridor plan.
What is India-Middle East-Europe Economic Corridor plan?
The “India-Middle East-Europe Economic Corridor” is a proposed infrastructure project that aims to create a trade route connecting India to Europe through the Middle East. While detailed plans may evolve, the general concept includes the following elements:
- Geographical Route: Passage from India through the United Arab Emirates, Saudi Arabia, Jordan, and Israel to Europe. The proposed route would likely involve a combination of railways and maritime transport.
- Trade and Economic Benefits: Boosting trade and economic ties by offering a shorter and potentially more cost-effective trade route.
- Challenges: Developing such a corridor involves overcoming various logistical, infrastructural, and geopolitical challenges. It requires cooperation and agreements between multiple countries and may face competition or concerns from existing infrastructure projects, such as China’s Belt and Road Initiative.
- Geopolitical Significance: The project is seen as significant development in the geopolitical landscape, challenging China’s Belt and Road Initiative and influencing trade dynamics.
- Role of Stakeholders: Involvement of countries along the route like India, UAE, Saudi Arabia, Jordan, and Israel in facilitating and developing the corridor.