At the ongoing G-20 summit, U.S. President Joe Biden announced the creation of a new ambitious corridor connecting India and Europe. The new corridor will promote greater people-to-people contacts, strengthen economic ties, and improve connectivity between India and Europe.
The proposed corridor will enable stronger energy ties between the two regions, with India emerging as a key source of natural gas, oil, coal and renewables for Europe. It will connect India’s strong manufacturing base to European markets, open up new markets for the U.S. and India in both regions, and facilitate greater scientific and technological collaboration.
President Biden also announced the establishment of a partnership between the U.S. and India to strengthen energy trade and tackle climate change. The partnership will promote cleaner, more efficient, and affordable energy solutions to reduce emissions and bring economic opportunities to both countries.
In addition, President Biden and Indian Prime Minister Narendra Modi agreed to Reciprocal Access Agreement that will allow both countries to conduct defense and counter-terrorism operations across their shared borders. This marks an important step forward in strengthening the strategic partnership between the two countries.
The announcement at the G-20 summit is a significant development that will increase connectivity between India and Europe, create economic opportunities, and strengthen the strategic partnership between the two countries.