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Source– The post is based on the article “An economic corridor, the Israel link and the geopolitics” published in “The Hindu” on 25th September 2023.
Syllabus: GS2- Global groupings
News– The 2023 summit of the G-20 under India’s presidency went exceptionally well given the group’s limited economic approach to the complex issues that the world faces
How India achieved significant success at this year’s G20 summit in early September?
Incorporation of the African Union into the G-20.,
A concrete proposal for clean energy cooperation through a biofuel alliance.
A substantial increase in aid for Asia-Africa initiatives.
the development of an economic corridor called “India-Middle East-Europe Economic Corridor.” It will link India, West Asia, and Europe through an ambitious rail and shipping network.
An unprecedented presence from the Middle East.
Issuance of the Delhi Declaration- India was able to develop consensus for declaration despite the current fragmented international order and power dynamics.
It refrains from explicitly naming Russia for its actions in Ukraine. However, it provides reference to the principles outlined in the United Nations charter and emphasises territorial sovereignty.
What is the significance of “India-Middle East-Europe Economic Corridor”?
This has the potential to reshape the geopolitics of the future. Its significance goes beyond merely challenging China’s Belt and Road Initiative.
U.S. President Joe Biden has described it as a “real big deal,” acknowledging its transformative impact on all parties involved and the global landscape.
Why did Israel not receive such an invitation during the G20?
It could have been challenging to arrange a meeting between Saudi Arabia’s Crown Prince Mohammed bin Salman and Mr. Netanyahu without diplomatic normalisation.
President Biden might have preferred an event without Mr. Netanyahu due to domestic political considerations, as he had avoided meeting him for the past eight months.
