New economic corridor to connect Asia, Europe & US

The IMEC will have two separate corridors — the east corridor connecting India to the Arabian Gulf and the northern corridor connecting the Arabian Gulf to Europe.

NEW DELHI:  India, the US, Saudi Arabia, the UAE, France, Germany, Italy and the European Union on Saturday signed an MoU to develop a new India-Middle East-Europe Economic Corridor (IMEC). The corridor is expected to boost economic development through enhanced connectivity and economic integration across two continents.

Hailed by PM Narendra Modi as “a beacon of cooperation, innovation, and shared progress”, the corridor will have a rail connectivity, linked through ports connecting Europe, Middle East, and Asia.
According to a statement released by the White House, the US and its partners intend to link both continents (Asia and Europe) to commercial hubs and facilitate the development and export of clean energy; lay undersea cables and link energy grids and telecommunication lines to expand reliable access to electricity; enable innovation of advanced clean energy technology; and connect communities to secure and stable Internet.

The IMEC will have two separate corridors — the east corridor connecting India to the Arabian Gulf and the northern corridor connecting the Arabian Gulf to Europe.

The corridor will include a railway line, which will provide a cost-effective cross-border ship-to-rail transit network to supplement existing maritime and road transport routes. The corridor will be used for transit of goods and services between India, the UAE, Saudi Arabia, Jordan, Israel, and Europe.

According to the MoU, the stakeholders of the corridor intend to enable the laying of cable for electricity and digital connectivity, as well as pipe for clean hydrogen export along the railway route. The corridor will secure regional supply chains, increase trade accessibility, improve trade facilitation, and support an increased emphasis on environmental social, and government impacts.

The partner countries expect the corridor to increase efficiencies, reduce costs, enhance economic unity, generate jobs, and lower greenhouse gas emissions — resulting in a transformative integration of Asia, Europe and the Middle East.

PM Modi posted on X: “Charting a journey of shared aspirations and dreams, the India-Middle East-Europe Economic Corridor promises to be a beacon of cooperation, innovation, and shared progress. As history unfolds, may this corridor be a testament to human endeavour and unity across continents.”
The US says it has committed support to transformative regional investments and working to build out the corridor. 

INDIA-MIDDLE EAST-EUROPE ECONOMIC COR

•   Project involves India, UAE, Saudi Arabia, EU, France, Italy, Germany and the US
•   Initially discussed at a meeting of NSAs in Saudi Arabia in May; Ajit Doval attended it
•   Project is open to expansion with countries like Greece may join in the future
•   Primary aim is to establish a robust transit network, including shipping routes between India and Saudi Arabia, followed by a rail connection to UAE, and potentially extending to Jordan. From Jordan, shipments will proceed by sea to Turkey and further inland via rail
•   The Dubai port, particularly Jebel Ali port, may play a key role in connecting UAE and India
•   Sea routes between India and Dubai, possibly through Kandla and JNPT ports, are part of the connectivity plan; Mundra port in Gujarat is also under consideration
•   The Dubai port is likely to serve as the starting point for the proposed rail link that would connect the UAE to Saudi Arabia, Turkey, Israel, and Europe