Prime Minister Shri Narendra Modi and US President HE Joe Biden co-chaired a special event on Global Infrastructure and Investment Partnership (PGII) and India-Middle East-Europe Economic Corridor (IMEC), on September 9, 2023 on the sidelines of the G20 summit in New Delhi.
The event aimed to unlock greater investment in infrastructure development and strengthen connectivity in its various dimensions between India, the Middle East and Europe.
The event was attended by leaders of the European Union, France, Germany, Italy, Mauritius, the United Arab Emirates and Saudi Arabia, as well as the World Bank.
PGII is a development initiative aimed at reducing the infrastructure gap in developing countries and helping accelerate progress on the Sustainable Development Goals globally.
The IMEC comprises an eastern corridor connecting India to the Gulf region and a northern corridor connecting the Gulf region to Europe. It will include a rail and naval transit network and road transport routes.
In his remarks, the Prime Minister highlighted the importance of physical, digital and financial connectivity. He said IMEC would help promote economic integration between India and Europe.
An MoU on IMEC has been signed by India, the United States, Saudi Arabia, the United Arab Emirates, the European Union, Italy, France and Germany.
Click here to see Project-Gateway-multilateral-MOU
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