Reportedly, India, the US, Saudi Arabia, and the United Arab Emirates are engaged in discussions about a potential railway project that would connect Middle Eastern countries via railways and India through a port. This project has the potential to reshape trade between the Gulf region and South Asia.
According to sources familiar with the matter, these discussions have also involved European countries, although there may not be a concrete agreement announced during the G20 Summit in Delhi.
The G20 Summit, scheduled for September 9 and 10, is expected to provide a platform for further discussions. During the summit, US President Joe Biden is set to meet with Prime Minister Narendra Modi and may also engage in talks with Saudi Crown Prince Mohammed Bin Salman.
These discussions about the infrastructure project have been ongoing for several months but are still in a state of flux.
The proposed multi-national ports and rail project could be viewed as a response to China's extensive Belt and Road global infrastructure initiative. President Biden is positioning the United States as an alternative partner and investor in developing countries within the framework of the G20.
Biden aims to convince rapidly growing economies in Africa, Latin America, and Asia that there is an alternative to China's Belt and Road project, which has left many developing nations burdened with substantial debt.
While expressing disappointment at Xi Jinping's absence from the G20 Summit, Biden sees an opportunity to advance his agenda.
The infrastructure project is expected to lead to reduced shipping times, costs, and diesel usage, ultimately making trade faster and more economical.
