In a significant move, a connectivity corridor through India and the Middle East will include direct train links to India, an Indian foreign ministry official said on Monday, September 11, revealing further details of the historic deal announced during the G20 2023 summit in Delhi.
While speaking to the media, the Indian secretary of the Foreign Ministry, Ausaf Sayeed revealed a brief about the plan and said along that the corridor would include train connectivity to India alongside ports.
“The new corridor agreement will include ports, railways, better roads, and also power, gas grids, and optical fibre networks,” Sayeed said.
The international rail and ports agreement, which includes the US, Saudi Arabia, India, the EU, and the UAE among its participants, is seen as a counterproposal to China’s expansive Belt and Road Initiative.
Following the announcement of cooperation on connectivity, Saudi Investment Minister Khalid Al Falih said the corridor would be “the equivalent of the Silk Route and Spice Road,” adding that it would offer “greater energy connectivity, green materials, and processed and finished goods that will rebalance the global trade.”
On Monday, India and Saudi Arabia also discussed the potential for trading in local currencies and accelerating the negotiations for a free trade agreement between India and the Gulf Cooperation Council, of which Saudi Arabia is a member.
Sayeed also revealed that the countries signed eight agreements, including a pact to upgrade their hydrocarbon energy partnership to a comprehensive energy partnership for renewables, petroleum, and strategic reserves.
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