Shaping the 21st century world order: India, UAE and Saudi Arabia's strategic alliance

In an era marked by swift transformations and ever-evolving global geopolitical dynamics, the role of strategic alliances among nations becomes pivotal in shaping the world stage. One of the most noteworthy outcomes stemming from the recent G20 summit hosted by India is the emergence of the India-Middle East-Europe Economic Corridor (IMEC). This visionary initiative involves collaborative efforts by India, the United Arab Emirates and Saudi Arabia to unveil an agreement aimed at constructing vital shipping and railway links, effectively connecting Europe and the Middle East to the Indian subcontinent. The core concept behind IMEC revolves around the establishment of an economic corridor facilitated by interconnected rail networks spanning the Middle Eastern region, which would subsequently link up with India through maritime routes. This strategic endeavor holds the potential to offer a credible alternative to the China-led Belt and Road Initiative (BRI), a program that has raised concerns due to its propensity to ensnare numerous nations in debilitating debt burdens, often leading to a loss of control over critical assets. A new chapter in India-UAE Relations India and the UAE have shared a long history of strong and robust strategic relations, underpinned by deep-rooted cultural and economic ties. The turning point in this relationship came in 2017 when the UAE-India partnership was officially elevated to a Comprehensive Strategic Partnership. This elevated status marked a significant milestone, cementing the bond between the two nations. The recent visit of Prime Minister Narendra Modi to the UAE further solidified this partnership, ushering in a new era of cooperation. Leaders from both nations pledged to enhance their collaboration in various domains, notably in renewable energy, including green hydrogen and solar energy, and grid connectivity. These developments underscored the commitment to a future of unlimited potential for both countries. Economic ties between India and the UAE have flourished with mutual investments and trade. FDI Markets data reveals that numerous UAE firms have invested in India while Indian companies have also made significant investments in the UAE. This interdependence has created a robust economic partnership that benefits both nations. The strengthening Indo-Saudi bond Similarly, India’s relationship with Saudi Arabia has witnessed remarkable growth and diversification. This transformation spans economic, security, defence, strategic and political spheres. Saudi Arabia’s ambitious “Vision 2030” and India’s recognition of Saudi Arabia’s economic and social transformation have played pivotal roles in deepening this partnership. The recent developments indicate a growing camaraderie and understanding of the immense potential in this bilateral partnership. Both nations have committed to long-term engagements, particularly in light of the changing geopolitical landscape in West Asia and South Asia. Saudi Arabia’s modernisation path and economic opportunities have opened doors for international players, including India, to engage in mutually beneficial endeavours. Economic collaborations and trade dynamics India and Saudi Arabia boast strong bilateral trade relations, with economic and investment agreements reflecting Saudi Arabia’s interest in expanding its economic footprint in India. Indian businesses play a vital role in joint ventures and significant investments in Saudi Arabia, offering a mutually advantageous economic partnership. The two nations have identified approximately 40 potential areas for joint collaboration and investment across various sectors. Efforts to eliminate trade barriers and relax business and trade investment rules have been crucial in facilitating exports and market access. The India - Middle East - Europe Economic Corridor: A Game-Changer This ambitious project aims to create an intercontinental corridor connecting Asia and Europe via Saudi Arabia through railways and other infrastructure. The IMEC is set to facilitate the transfer of renewable electricity and clean hydrogen, strengthening commercial trade and the movement of goods by linking railways and ports. It comprises two pathways: the east corridor connecting India to the Gulf and the northern corridor linking the Gulf to Europe. Leaders from the UAE, Saudi Arabia, the European Union, India and the United States are collaborating to establish coordinating bodies for the IMEC network. This project not only fosters sustainability by reducing greenhouse gas emissions but also enhances regional supply chain efficiency. A counter to China’s Belt and Road Initiative The IMEC project assumes even more significance in the context of China’s Belt and Road Initiative (BRI). The BRI, in its tenth year, has raised concerns over its impact on developing nations, often leading to debt-related challenges. The IMEC offers an alternative, reducing shipping time and costs, increasing energy, trade and digital communications flows and addressing infrastructure deficits in lower- and middle-income nations. President Joe Biden has welcomed the IMEC as a substantial development, recognizing its potential to reshape global trade. The project is viewed as a counter to the BRI, emphasizing sustainable economic growth and regional security. The historic photograph: Modi’s diplomatic triumph One historic moment that encapsulates the evolving dynamics of this alliance is the photograph of Prime Minister Narendra Modi initiating a warm greeting between President Joe Biden and Saudi Crown Prince Muhammad Bin Salman. This gesture followed years of strained relations between MBS and President Biden, primarily after the Jamal Khashoggi incident. Prime Minister Modi’s role as a diplomatic bridge-builder in this context highlights India’s growing influence on the global stage. It underscores the importance of the trilateral partnership in shaping the 21st-century world order. Path forward: Leveraging unity for a better world As the India-UAE-Saudi Arabia alliance continues to evolve, the world watches with anticipation. The trilateral partnership not only promotes economic growth but also symbolizes unity in diversity. These nations, representing diverse cultures, religions, and histories, are demonstrating how cooperation can transcend differences and foster progress. The India-Middle East-Europe Economic Corridor, with its focus on clean energy and efficient trade, embodies a forward-looking approach to international relations. It serves as a model for addressing global challenges such as climate change, infrastructure deficits, and economic disparities. In an era characterised by shifting alliances and global uncertainties, the alliance between India, the UAE and Saudi Arabia stands as a beacon of stability and progress. Together, they are defining a 21st-century world order that prioritises cooperation, sustainability and shared prosperity over competition and division. Their story reminds us that in unity nations can shape a better world for generations to come. The writer takes special interest in history, culture and geopolitics. Views expressed in the above piece are personal and solely that of the author. They do not necessarily reflect Firstpost’s views. Read all the  Latest News,  Trending News,  Cricket News,  Bollywood News, India News and  Entertainment News here. Follow us on  Facebook,  Twitter and  Instagram.