Why in News?
The India–Middle East–Europe Economic Corridor (IMEC) progress has slowed due to the ongoing Gaza war, which disrupted Middle East stability, strained Israel–Arab ties, and increased trade risks, despite recent multi-nation talks in New Delhi to advance its eastern leg.
Description:
- Connectivity Project → Integrates ports, railways, roads, sea lines, and pipelines.
- Objective: Enhance trade & connectivity between India, Arabian Peninsula, Mediterranean, Europe.
- Structure:
- Eastern Corridor → India ↔ Arabian Gulf.
- Northern Corridor → Gulf ↔ Europe.
- Major Routes:
- Shipping: Mumbai & Mundra → UAE.
- Rail: UAE → Saudi Arabia → Jordan → Israeli port of Haifa → by sea to Piraeus (Greece) → onward to Europe.
- Additional Infrastructure:
- Electricity grids.
- Optical fibre cables (digital connectivity).
- Hydrogen gas pipelines.
Economic & Strategic Goals:
- Lower transport cost & time.
- Strengthen regional supply chains.
- Boost trade accessibility & economic cooperation.
- Create jobs.
- Reduce greenhouse gas emissions.
Funding Support:
- Backed by Partnership for Global Infrastructure and Investment (PGII) → US-led initiative for developing countries.
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