G20 Summit India 2023 | Is India, Middle East Europe Corridor A Counter To China's BRI? | News18

G20 Summit India 2023 | Is India, Middle East Europe Corridor A Counter To China's BRI? | News18A galaxy of global leaders unveiled an ambitious trade and infrastructure project linking India, the Middle East and Europe in a first-of-its-kind initiative that proposed building a modern-day spice route involving ports, electricity, data networks and energy pipelines. The initiative — announced on the sidelines of the G20 leaders’ summit in New Delhi — is expected to act as a counterweight to China’s Belt and Road Initiative (BRI), a mega infrastructure project that has fuelled concerns about Beijing’s expansive footprint across at least three continents.India, Saudi Arabia, the European Union, the United Arab Emirates (UAE), France, Germany, Italy and the US came together for the India-Middle East-Europe Economic Corridor (IMEC). IMEC is expected to stimulate economic development through enhanced connectivity and economic integration between Asia, the Arabian Gulf, and Europe.“This will give the whole world connectivity and development a sustainable direction,” Prime Minister Narendra Modi said. “It will drive sustainable development for the entire world,” he added.