12 Sept 2023
The corridor will connect India's West Coast to the Middle East via shipping lines, pass through UAE, Saudi, Jordan, and Israel via a railway line, and enter the Mediterranean via France, Germany, and Italy.
Leaders from India, the US, UAE, Saudi Arabia, France, Germany, Italy, Africa and the EU unveiled a Memorandum of Understanding to build a trade corridor connecting Asia, Africa and Europe. The new passage will provide neutral trade opportunities for manufacturing, food security and supply chain logistics. It will have two sections: the East Corridor connecting India to the Gulf and the Northern Corridor connecting the Gulf to Europe.
This challenges the decade-old Chinese Belt and Road Initiative (BRI) that India has always opposed. The BRI acted as China’s tool to dominate developing nations by creating a debt trap and strategic issues. Many countries have started opposing the BRI, including Italy, that had joined the Chinese project in 2019.
It is expected to reduce shipping time and expenses, fuel consumption, and make commerce between India and the Mediterranean more sustainable, faster, and cheaper.