Countering China: How India-Middle East-Europe Corridor will work

NEW DELHI: In a significant development that could have far-reaching geopolitical ramifications, the India-Middle East-Europe Economic Corridor (IMEC) was announced at the recently concluded G20 Summit in New Delhi.

A Memorandum of Understanding (MoU) regarding this was signed by India, Middle Eastern countries, Europe, and the US, thus marking a significant milestone in global economic and political dynamics.

The participating nations in this initiative are Saudi Arabia, India, the United Arab Emirates (UAE), France, Germany, Italy, and the US.

The corridor aims to strengthen economic development by improving connectivity and economic integration between Asia, the Arabian Gulf, and Europe.

Most significantly, it is also seen as a strategic response to China's Belt and Road Initiative (BRI), which has expanded Beijing's influence across Asia, Africa, and Europe.

The launch of this economic corridor underlines the global shift in economic and geopolitical power, with India at the heart of this strategic corridor.

Another significant aspect of this pact is the inclusion of Israel, a nation that has historically faced tensions with many Arab countries.

This signals a monumental shift in Middle Eastern dynamics.

The corridor will connect Israel with its Arab neighbours, promoting economic cooperation and fostering a more interconnected Middle East.

Some important aspects of IMEC are that it will consist of two distinct corridors: the east corridor, linking India to the Arabian Gulf, and the northern corridor, connecting the Arabian Gulf to Europe.

This will include a railway network designed to offer reliable and cost-effective cross-border ship-to-rail transportation, complementing existing maritime and road routes.

The corridor will include the establishment of infrastructure for electricity and digital

connectivity, as well as pipelines for clean hydrogen export.

This will not only bolster regional supply chains but also improve trade connectivity.

It will also lead to greater economic unity, job creation, and reduced costs.

Also, IMEC will focus on environmental, social, and governance impacts, aligning the project with sustainable development goals.

Finally, it will integrate Asia, Europe, and the Middle East, creating a corridor for trade and investment. (IANS)

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