Anticipated multilateral breakthroughs unveiled at G20 summit

As the G20 summit approaches, Prime Minister Narendra Modi's personal oversight ensures meticulous preparations across various ministries. With last-minute touches being applied, the summit promises to be a resounding success. The event will see the launch of three significant multilateral initiatives—Middle-East Infrastructure Corridor, Global Biofuels Alliance, and the scaled-up Partnership for Global Infrastructure and Investment (PGII). There's also a possibility of India leading the way with the "One Future Alliance" for global digital public infrastructure.

Prime Minister Narendra Modi is set to host a bilateral meeting cum dinner with US President Joe Biden, a key event of the summit.

Middle-East infrastructure corridor

India, along with close allies Saudi Arabia, UAE, and the US, will unveil the Middle-East Infrastructure Corridor. This initiative aims to connect India with the Middle East through a railroad-ports project. The project, which was discussed between the National Security Advisors of the US, India, and the UAE under the leadership of Saudi Crown Prince Mohammed bin Salman in May, is central to enhancing connectivity by linking the West Asian railroad network with Indian ports. The goal is to foster a more secure and prosperous Middle East.

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Global biofuels alliance

The summit will also see the launch of the Global Biofuels Alliance, an initiative aimed at reducing fossil fuel consumption by promoting climate-friendly biofuels like ethanol and jatropha. Supported by the US and UAE, the alliance has garnered interest from other countries willing to back India's efforts in this direction.

The US-led PGII will be significantly expanded during the G20 summit to address high-quality infrastructure financing in low and middle-income countries. PGII, which was discussed at the G7 summit in Hiroshima earlier this year, seeks to mobilize financing for delivering energy, physical, digital, health, and climate-resilient infrastructure. These initiatives are seen as alternatives to the China-led Belt and Road Initiative (BRI), which has faced challenges due to the financial burdens placed on recipient nations in Asia and Africa.

One future alliance

The G20 summit is expected to provide momentum to the "One Future Alliance," a voluntary initiative that seeks to bring together countries and stakeholders to collaborate on shaping the future of Digital Public Infrastructure (DPI). India, a leader in digital payments, is actively promoting DPI, and other close allies are expected to join the effort during the summit. This initiative aims to create a platform that can be used by all countries, emphasizing collaboration and inclusivity in the development of digital infrastructure.

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In conclusion, the G20 summit promises to be a platform for launching major multilateral initiatives that address critical global challenges such as infrastructure development, sustainable energy, and digital infrastructure. With India playing a leading role in these efforts, the summit provides an opportunity for countries to come together and work towards a more interconnected and sustainable future.