New Rail-Port Corridor Different From China’s Belt And Road? Minister Explains

New Delhi:

The proposed India-Middle-East-Europe Corridor, which is seen by many as a rival to China’s Belt And Road Project, will be substantially different, Railway Minister Ashwini Vaishnaw told NDTV today. Compared to the Chinese project that pitches its host nations into a debt trap, the G20 project will bring in revenue and be bankable, he told NDTV in an exclusive interview.

“PM’s vision of taking everyone along is important part of this corridor… PM’s vision of sabka saath sabka vikas is very clearly ingrained in this one from conception,” the minister said.

BRI came with lots of conditions. In case of this project, which will be partially a shipping corridor and the rest railway, each country can decide on the basis of its needs, he said.

The project will be so bankable that several multilateral institutions are willing to fund it. “Transportation will bring so much revenue that it will be able to pay on its own without getting the host country into a debt trap,” he added.