IANS | 12 Sep, 2023
The newly-announced India-Middle East- Europe economic corridor will
have greater significance than the erstwhile Silk Route and even the
Spice
Route, Saudi Arabian Investment Minister Khalid bin Abdulaziz Al-Falih
said on Monday.
"People talk about the Silk Route and the Spice
Route of India through the Arabian Peninsula, however the economic
corridor will be historical," the minister said while speaking to
reporters on the sidelines of the Saudi-India Investment Forum.
Emphasising
the significance of the newly-announced corridor, he said that it is
going to be about new energy, data, connectivity, human resources,
aviation routes and also about aligning countries that are of the same
mind and same vision.
"Both Saudi Arabia and India have great
human capital and access to financial resources. The next step is to
make sure that the private sector fully understands what we have right
before them, in terms of opportunities... we need to clear the roadmap
for them and I think great things will happen," Al-Falih added.
The
rail and shipping corridor is part of the Partnership for Global
Infrastructure Investment (PGII), which is a collaborative effort by the
G7 nations to fund infrastructure projects in developing nations. It is
being considered as the bloc’s effort to counter China’s Belt and Road
Initiative.
