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What's the article about?
- It talks about India's Successful G-20 Summit and the announcement of the India-Middle East-Europe Economic Corridor.
Relevance:
- GS2: Bilateral, Regional and Global Groupings and Agreements involving India and/or affecting India’s interests.
Context:
- The 2023 G-20 summit, held under India's presidency, was successful in addressing complex global issues such as climate change, underdevelopment, wealth concentration, poverty, and falling democratic norms and principles of peace.
- The summit achieved various outcomes, including the inclusion of the African Union in the G-20, a tangible offer of clean energy through a biofuel alliance, increasing substantial aid for Asia-Africa, an economic corridor that connects India, West Asia, and Europe using an ambitious rail and shipping link, and the Delhi Declaration, which was a joint statement of all the group.
Analysis:
- Delhi Declaration:
- The joint statement called the Delhi Declaration is newsworthy because of the fractured international order and power struggles between India and the United States with China or the U.S. with Russia.
- Despite the absence of China’s President Xi Jinping and Russian President Vladimir Putin at the summit, India still got their agreement for the declaration which sums up the achievement.
- Substantially speaking, the statement is pareve (the Hebrew word for characterless things; read banal here) as it does not name Russia for aggression against Ukraine; but it does evoke the United Nations charter and principles of territorial sovereignty.
- An Indian official revealed the recipe for this over-applauded collective statement: “India needed a text that had something for everyone, so that each member can go back with a win.”
- India-Middle East-Europe Economic Corridor:
- The boldest outcome of the summit was the announcement of the economic corridor (the “India-Middle East-Europe Economic Corridor”), of a rail-ship route, to transport goods to Europe from India via the United Arab Emirates-Saudi Arabia-Jordan-Israel.
- Such a project will change the geopolitics for the future.
- The fact that it challenges China’s Belt and Road Initiative is beside the more significant point. U.S. President Joe Biden called it ‘a real big deal’, which is transformative for all those involved and the rest of the world.
- Israel Prime Minister Benjamin Netanyahu was prompt to show that Israel has been eager to be a part of such a project.
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India-Middle East-Europe Economic Corridor:
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Way Forward:
- India-Middle East-Europe Economic Corridor is a positive step, and it is supposed to bring peace and prosperity in the region.
