G20 summit: New 'spice route' deal to counter China's OBOR
India, along with the US, EU, Saudi Arabia and UAE, clinched a deal Saturday to set up the India-Middle East-Europe Economic Corridor that will provide faster and cheaper sea and rail transit option to west Asia and Europe and is seen as a counter to One Belt One Road initiative. Praising PM Modi for helping clinch a deal to set up a trade corridor linking India with west Asia and Europe, Biden said the proposed partnership was in sync with the current G20's theme of One Earth, One Future.
India, along with the US, EU, Saudi Arabia and UAE, clinched a deal Saturday to set up the India-Middle East-Europe Economic Corridor that will provide faster and cheaper sea and rail transit option to west Asia and Europe and is seen as a counter to One Belt One Road initiative. Praising PM Modi for helping clinch a deal to set up a trade corridor linking India with west Asia and Europe, Biden said the proposed partnership was in sync with the current G20's theme of One Earth, One Future.
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