PM Modi launches scaled-up Partnership for Global Infrastructure and Investment at G20 Summit

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Prime Minister Narendra Modi on September 9 launched the scaled-up Partnership for Global Infrastructure and Investment (PGII) and India-Middle East-Europe Economic Corridor programme.

The India-Middle East-Europe Economic Corridor programme will build sustainable, resilient infrastructure in India, countries in West Asia and the US. The programme will also promote quality infrastructure investments in the three countries.

“In the coming time, India will be a medium for economic integration between West Asia and Europe,” said PM Modi while addressing the PGII conference with G20 leaders at Bharat Mandapam.

Similarly, United States President Joe Biden emphasized the importance of the India-Middle East-Europe Corridor.

"This is a real big deal. I want to thank PM. One Earth, One Family, One Future that's the focus of this G20 Summit. And in many ways, it's also the focus of this partnership that we're talking about today," Biden said.

"Last year, we came together as one to commit to this vision. And this afternoon I want to highlight the key ways in which the United States and our partners are working to make this a reality. Economic corridor. You're going to hear that phrase more than once, I expect, over the next decade. As we work to address infrastructure gaps across low-middle-income countries, we need to maximise the impact of our investments," Biden added.

Saudi Crown Prince Mohammed bin Salman and UAE President Mohammed bin Zayed were also present at the event.

The idea of connecting India with the Middle East through railroad-ports project was discussed between National Security Advisors of the US, India and the UAE, and under the leadership of Saudi Crown Prince MBS in May in Jeddah.

It is understood that at the heart of this initiative is a major connectivity project linking the West Asian railroad network with Indian ports for a more secure and prosperous Middle East.

The plan is to create an economic corridor that links Middle-Eastern countries through rail links, which will then be connected to India through shipping lanes. The European Union will also be involved.

The project, which is in line with President Biden's Middle East strategy, will enhance connectivity, de-escalate conflict, and provide a counter for China's 'Belt and Road' initiative.

This project, which will push commerce, energy trade, digital connectivity and high standards, will be executed in a transparent, non-coercive and sustainable way.