The G20 Summit under India’s presidency last week announced the launch of the India-Middle East-Europe economic corridor. It aims to enhance connectivity and trade throughout this corridor, connecting India to Saudi Arabia and then onto Europe. 

The other signatories to this proposal are the UAE, France, the EU, the US and Germany. In some quarters, this is also seen as a sort of a challenge to China’s Belt and Road Initiative. That Italy has signalled to China its keenness to exit the Asian nation’s infrastructure initiative adds to the intrigue.