IMEC (Syllabus: GS Paper 2 – IR)

Context: The Prime Minister of India recently announced that the India-Middle East-Europe Economic Corridor will reduce business costs, increase logistical efficiency, and create a large number of jobs during his speech in Mumbai.

India – Middle East – Europe Economic Corridor (IMEC)

• About: The IMEC is being envisioned as a network of transport corridors, including railway lines and sea lanes, that is expected to aid economic growth through integration between Asia, the Arabian Gulf, and Europe.
• Aim: The arrangement will include a railway route that, upon completion, will provide a reliable and cost-effective cross-border ship-to-rail transit network to supplement existing maritime and road transport routes. 

oThis will enable goods and services to transit to, from, and between India, the UAE, Saudi Arabia, Jordan, Israel, and Europe.

• Part of: The project is a part of the Partnership for Global Infrastructure Investment (PGII).
• Countries involved: India, USA, Saudi Arabia, UAE, European Union, Italy, France and Germany.