‘Historic’ EU-Mid East-India trade plan launched

News Snapshot:

A broad alliance of states on Saturday unveiled ambitious plans to create a modern-day Spice Route linking Europe, the Middle East and India, boosting trade ties with potentially wide-ranging geopolitical implications. The United States, Saudi Arabia, the European Union, the United Arab Emirates and others launched the initiative to link railways, ports, electricity and data networks and hydrogen pipelines on the sidelines of the Group of 20 summit in New Delhi. 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...