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The India-Middle East-Europe economic corridor – which was unveiled at the G20 summit in September, seen by many as a counter to China’s Belt Road Initiative – is a strategic and economic game changer, said Finance Minister Nirmala Sitharaman today as she presented the interim budget.
The corridor deal hopes to integrate India’s vast market of 1.4 billion people with countries to the west, offer a counterweight to Chinese infrastructure spending, boost Middle Eastern economies and help normalise relations between Israel and Gulf Arab states.
“The recently announced India-Middle East-Europe Economic Corridor is a strategic and economic game changer for India and others. In the words of Hon’ble Prime Minister, the corridor “will become the basis of world trade for hundreds of years to come, and history will remember that this corridor was initiated on Indian soil”,” said Ms Sitahraman.
“Our vision for ‘Viksit Bharat’ is that of “Prosperous Bharat in harmony with nature, with modern infrastructure, and providing opportunities for all citizens and all regions to reach their potential”,” she added.
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