G7 leaders provide big boost to PM Modi, commit to promoting India-Middle East-Europe Economic Corridor
India TV NewsG7 Summit 2024: In a big win for Prime Minister Narendra Modi, the leaders of the Group of Seven nations have committed to promoting concrete infrastructure initiatives such as the India-Middle East-Europe Economic Corridor in the G7 Summit Communique issued at the end of the three-day G7 Summit. “We will further promote concrete G7 PGII initiatives, flagship projects, and complementary initiatives to develop transformative economic corridors for quality infrastructure and investment, such as the deepening of our coordination and financing for the Lobito Corridor, the Luzon Corridor, the Middle Corridor, and the India-Middle East-Europe Economic Corridor, also building on the EU Global Gateway, the Great Green Wall Initiative, and the Mattei Plan for Africa launched by Italy,” reads the communique. India, the US, UAE, Saudi Arabia, France, Germany, Italy and the European Union had signed a Memorandum of Understanding to establish the India-Middle East-Europe Economic Corridor oat the sidelines of the G20 Summit held in New Delhi in September last year. The East Corridor, which links India to West Asia/Middle East, and the Northern Corridor, which connects West Asia/Middle East to Europe, will make up the India-Middle East-Europe Economic Corridor.