The G20 Summit in Delhi has opened many doors for India’s participation in the world. It was announced in the summit to create India-Middle East-Europe Economic Corridor. Israel and Jordan will also benefit from this project involving a total of 8 countries including India, UAE, Saudi Arabia, America, France, Germany, Italy and European Union.
This new corridor starting from Mumbai will be an alternative to China’s Belt and Road Initiative (BRI). This corridor will be 6 thousand km long. This includes 3500 km sea route.
After the construction of the corridor, about 40% time will be saved in transporting goods from India to Europe. Currently, it takes 36 days for any cargo from India to reach Germany by shipping, this route will save 14 days. With direct access to Europe, import-export will be easier and cheaper for India.
PM Modi handed over the presidency of G20 to Brazil
On the last day of the G20 Summit, Prime Minister Narendra Modi handed over the chairmanship of the G20 to Brazilian President Lula da Silva. With this the PM announced the conclusion of the summit. Brazil will host next year’s G20 summit. PM said in Sanskrit language – Swasti Astu Vishwasya! That means there should be hope and peace in the entire world.
After the last session of the summit, PM Modi said that the world is changing and with it the institutions of the world also need to change. He said- Till now there are the same number of members in UNSC as there were at the time of its establishment. The number of permanent countries should increase. After this, the President of Brazil said that the debt problem of poor countries will have to be addressed. The world will have to increase efforts to end hunger.
