Understand the economic, political and strategic significance of India-Middle East-Europe Economy Corridor like this

In view of the concept of Global Village suitable for Vasudhaiva Kutumbakam and Capitalism, amidst the rapidly changing worldliness, apart from the New Delhi Declaration of G20 countries, the announcement of the proposed India-Middle East-Europe Economy Corridor has implications for the global and regional economic situation. And the strategic implications are important. It would not be surprising if in the near future, as soon as they take shape, political, social and cultural implications also start getting affected.

To be honest, this is a very important decision in view of the new policy being established by RSS and BJP. So that whether it is the dream of united India or Vasudhaiva Kutumbakam, both will be successfully achieved through this proposed global economic corridor, provided the Modi 3 government comes back to power in 2024. It has been told that eight countries of the world will jointly build the proposed India-Middle East-Europe Economic Corridor from India to Europe, which will go from India to Europe via Israel.

For example, India, America, United Arab Emirates, Saudi Arabia, European Union, France, Italy, Germany will participate in the construction of this corridor. These are those countries which consider India closer to them than China – both from the democratic and economic point of view. Therefore, the proposed India-Middle East-Europe Economic Corridor is a historic decision of the G-20 Summit, New Delhi, which will be remembered by the coming generations for centuries.

In the opinion of experts, the decision of this new corridor will not only bring the countries of Asia and Europe very close to each other geopolitically, but will also make collective efforts to establish lasting peace in the troubled Middle East. Seen from this perspective, it is one of the best examples of Prime Minister Narendra Modi’s call to resolve to work together for a better, more prosperous and harmonious future.

The new corridor is also being touted as a competitive Indian alternative to India’s rival China’s ‘One Belt, One Road’ project. This may have hurt China and its supporting countries, but in front of ‘Modi Diplomacy’ neither does anyone move nor does it leave any loophole in its policy to allow something to happen, which is a symbol of India’s growing global strength. have become

Let us tell you that BRI was conceived by Chinese President Xi Jinping in 2013, which is known as One Belt One Road Initiative (BRI) since 2016. It is a group of China’s projects to increase land and sea connectivity between Asia, Europe and Africa. Which is now facing tough competition from India’s changing powerful diplomacy and strategy.

The proposed India-Middle East-Europe Economic Corridor from India to Europe is being presented as an alternative to China’s Belt and Road Initiative, which has been adopted by many countries in South Asia, the Middle East and Africa. Therefore, now a lot will depend on the speed with which the new proposed economic corridor is implemented and how much sincerity is maintained in achieving its collective goal.

Announcing the India-Middle East-Europe Economic Corridor, connecting India to the Middle East and Europe, Prime Minister Narendra Modi has rightly said that “It will give a new direction to global infrastructure, partnership for investment, mobility and sustainable development. With this big step, we are sowing the seeds for future development which will play a big role in strengthening mutual trust.” He further said that “through the Partnership for Global Infrastructure and Investment (PGII), we can play a big role in bridging the infrastructure gap in the countries of the Global South.”

Experts say that India and the United States were willing to work together in the Indo-Pacific region, but there was little possibility of the two working together in the Middle East. Therefore, both the countries have joined hands on the India-Middle East-Europe Economic Corridor, which will yield good results. At the same time, American officials also believe that this mega connectivity project will promote inter-regional connectivity, which will reduce political turmoil in the Arabian Peninsula. This will also bring peace and stability in this region.

The most important thing is that this corridor will further deepen India’s strategic partnership with the Arabian Peninsula. Because the Modi government has rapidly increased political and strategic relations with the United Arab Emirates and Saudi Arabia during its tenure. At the same time, this corridor will make India’s land connectivity with the West easier, which will neutralize Pakistan’s hindrance to land movement. At the same time, since India has good relations with Tehran (Iran), its conflict with western countries is well known. In such a situation, this economic corridor which is going to be built from Iran to Eurasia is likely to have a positive impact on India’s business activities.

Most importantly, the proposed India-Middle East-Europe Economic Corridor from India to Europe is a symbol of Europe’s activism. Because the EU has earmarked 300 million Euros for spending on infrastructure development in the world in 2021-27, the support of which will make the EU, India, Arab and Europe key stakeholders. This is the reason why other countries of the world have not only played an important role in realizing this dream of India, but have also publicly appreciated it.

On one hand, US President Joe Biden has said that “8 countries of the world will jointly build the proposed economic corridor. It will go from India to Israel and Europe. Coming generations will remember this historic decision.” He further said, “As a major part of the economic corridor, we are investing in ships and trains. This will ease trade.” On the other hand, French President Emmanuel Macron said, “This initiative is related to the global green trade route.”

At the same time, European Union President Ursula von der Leyen has described this proposed corridor as historic and said that “this will strengthen trade and along with it will reduce travel time.” At the same time, Saudi Arabia’s Crown Prince Mohammed bin Salman said, “I want to thank those who have made an important contribution in reaching here for the establishment of the economic corridor.”

Therefore, it is understood that the proposed India-Middle East-Europe Economic Corridor from India to Europe will open a new path of progress for the world. This will not only increase mutual contact between different countries, but will also increase trade and employment unexpectedly. It is natural that due to this the continental cultures will also be influenced by each other which will be mutually assimilated. Since the assimilation capacity of Indian civilization and culture is greater than others, the new corridor can also be helpful in increasing its popularity.

– Kamlesh Pandey

Senior journalist and columnist