NEW DELHI: Prime Minister Narendra Modi announced the India-Middle East-Europe Economic Corridor to counter the China-Pakistan Economic Corridor project. The project is being implemented with the help of the United States. The agreement was announced during the G20 summit. The economic corridor starts from India and extends to Europe.

Modi said that the first priority is to connect the countries and lay the foundation of the economic corridor for the next generation. The agreement aims to increase the trade between India and Europe by 40 percent by implementing rail and port development and providing infrastructure by including the countries of UAE, Saudi Arabia, Jordan and Israel. It also includes laying communication cables for communication links with countries, developing rail port facilities, laying hydrogen pipelines etc.

Countries including the United States have announced their support for the project. Joe Biden responded that the goal is to pave the way for new opportunities. The German Chancellor also stated that he would work for the success of the corridor. France also expressed its support for the project.

The new announcement aims to deal with the China-Pakistan Economic Corridor (CPEC) project. China's plan was to connect China and Pakistan's Gwadar port as part of the Belt and Road Initiative road project. China aimed to make Gwadar port a hub for Asia's cargo movement by connecting Gwadar with China's Kashgar region.