NEW DELHI: India hailed its 'strategic' partnership with oil-rich Saudi Arabia on Monday (Sep 11), days after unveiling a major trade and transport route linking Europe, the Middle East and India as part of a broad alliance. 'Together, we made the historic start to establish an economic corridor,' Ind
NEW DELHI: India hailed its"strategic" partnership with oil-rich Saudi Arabia on Monday , days after unveiling a major trade and transport route linking Europe, the Middle East and India as part of a broad alliance.
On Saturday, the pair took part alongside other G20 leaders in the unveiling of ambitious plans to create a modern-day Spice Route, boosting trade ties with potentially wide-ranging geopolitical implications. Although heavily trade-focused, the scheme could have wide-ranging implications - including developing contacts between long-time foes Israel and Saudi Arabia.
Signatories hope it can help integrate India's vast market of 1.4 billion people with countries to the west, offer a counterbalance to lavish Chinese infrastructure spending, boost Middle Eastern economies and help normalise relations between Israel and Gulf Arab states.
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