India-Middle East-Europe Corridor (IMEEC)

Context

Prime Minister Narendra Modi and United Arab Emirates (UAE) Deputy Prime Minister and Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan held high-level talks to discuss the implementation of the India-Middle East-Europe Corridor (IMEEC), a strategic initiative aimed at enhancing regional connectivity and prosperity.

About IMEC

During the G20 summit in New Delhi in September, world leaders unveiled plans for a India-Middle East-Europe Economic Corridor (IMEC).
Need: Geopolitical and geoeconomic considerations underpin the rationale for the IMEC.
The corridor aims to provide a reliable and cost-effective ship-to-rail transit network connecting Asia, the Middle East, and Europe, enhancing economic development through improved connectivity and integration.
Key Participants: India, Saudi Arabia, UAE, France, Germany, Italy, USA, and the European Union are the key member nations involved in the project.
Project Components:
- The corridor will include a railway route to create a cross-border ship-to-rail transit network, supplementing existing maritime and road transport routes.
- This will allow the movement of goods and services between India, the UAE, Saudi Arabia, Jordan, Israel, and Europe.
- Along the railway track, a clean hydrogen export cable will also be laid.
Structure of the Corridor: The project consists of two separate corridors:
- Eastern Corridor: Connecting India to the Arabian Gulf.
- Northern Corridor: Connecting the Arabian Gulf to Europe.
Key Functions: The corridor aims to:
- Safeguard regional supply chains.
- Boost trade accessibility across these regions.
- Promote environmental, social, and governance (ESG) considerations.
- Increase efficiency, reduce costs, create jobs, and reduce greenhouse gas emissions.
This initiative is part of the Partnership for Global Infrastructure Investment (PGII), a West-led project aimed at funding infrastructure projects globally, with a focus on economic integration, trade growth, and sustainability across Asia, the Middle East, and Europe.

Ports in the India-Middle East-Europe Economic Corridor (IMEC)

India: Mundra Port (Gujarat), Kandla Port (Gujarat), Jawaharlal Nehru Port Trust (Navi Mumbai)
Middle East: Fujairah Port (UAE), Jebel Ali Port (UAE), Abu Dhabi Port (UAE), Dammam Port (Saudi Arabia), Ras Al Khair Port (Saudi Arabia)
Railway Line: The railway will link Fujairah Port (UAE) to Haifa Port (Israel), passing through Saudi Arabia (via Ghuwaifat and Haradh) and Jordan.
Israel: Haifa Port (Israel)
Europe: Piraeus Port (Greece), Messina Port (Southern Italy), Marseille Port (France)

Partnership for Global Infrastructure Investment (PGII):

The infrastructure plan was first announced in June 2021 during the G7 (or Group of Seven) summit in the UK.
The G7 countries include the United Kingdom, the United States, Canada, France, Germany, Italy, Japan, and the European Union (EU).
US President had called it the Build Back Better World (B3W) framework.
In 2022, during the G7 summit in Germany, the PGII was officially launched as a joint initiative to help fund infrastructure projects in developing countries through public and private investments.