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India-Middle East Economic Corridor to foster cooperation & boost development

October 10, 2023 9:32 AM IST

India | New Delhi | UAE | G20 Summit | France | US | Saudi Arabia | Italy | Germany | Economic Corridor | India-Middle East-Europe Corridor | the European Union

The recent G20 summit in New Delhi marked the commitment to establish the India-Middle East-Europe Corridor (IMEC), a comprehensive network designed to foster sustainable and efficient trade between Europe and Asia via the Middle East. IMEC encompasses various infrastructure elements, such as rail systems, ship-to-rail networks, roads, electricity cables, hydrogen pipelines, and high-speed data cables. Key participants in this global endeavor comprise India, the US, Saudi Arabia, UAE, the European Union, Italy, France, and Germany.

IMEC’s primary goal is to boost economic development by enhancing connectivity and fostering economic integration among Asia, the Arabian Gulf, and Europe. It comprises two distinct corridors: the east corridor linking India to the Arabian Gulf and the northern corridor connecting the Arabian Gulf to Europe. The railway within IMEC will establish a reliable and cost-effective cross-border ship-to-rail transit network, complementing existing maritime and road routes, facilitating the seamless transit of goods and services between India, the UAE, Saudi Arabia, Jordan, Israel, and Europe.

Furthermore, along the railway route, plans are underway to lay cables for electricity and digital connectivity, as well as pipelines for clean hydrogen export. This corridor aims to strengthen regional supply chains, improve trade accessibility, enhance trade facilitation, and underscore a commitment to environmental and social impacts.

Indian Ambassador to the UAE, Sunjay Sudhir, discusses the proposed India-Middle East Economic Corridor in an interview with Prasar Bharati.  

 

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Last updated on: 13th July 2024