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Topic : India-Middle East-EU Economic Corridor (IMEC) Project

GS-2 Mains : IR

Revision Notes

Context:

• Uncertainties surround the IMEC project due to regional instability.
• India might start work on the eastern leg (India-West Asia).

Background:

• Announced in 2023 at the G20 Summit.
• Involves India, EU, US, France, Germany, Italy, Saudi Arabia, and UAE.
• Aims to integrate Asia, Europe, and the Middle East.

Components:

• Two corridors:
  • East: India to West Asia (Middle East)
  • North: West Asia to Europe
• Ports:
  • India: Mundra, Kandla, JNPT (Navi Mumbai)
  • Europe: Piraeus (Greece), Messina (Italy), Marseille (France)
  • Middle East: Fujairah, Jebel Ali, Abu Dhabi (UAE), Dammam & Ras Al Khair (Saudi Arabia)
  • Israel: Haifa
• Railway Line: Fujairah (UAE) to Haifa (Israel) via Saudi Arabia (Ghuwaifat & Haradh) and Jordan.

Significance of IMEC Project:

• Economic Boost: Improved connectivity and integration between Asia, Europe, and the Middle East is expected to drive economic growth across the regions.
• Enhanced Connectivity: A new rail line will provide a cost-effective and reliable transport network, supplementing existing routes.
• Eco-Friendly Approach: The project emphasizes the development of environmentally sustainable infrastructure.
• Transformative Integration: Aims to improve efficiency, reduce costs, secure supply chains, increase trade access, create jobs, and lower emissions.

Concerns and Challenges:

• Regional Instability: The recent Gaza conflict and ongoing security issues in the Middle East make some partners hesitant to invest.
• Disrupted Vision: The project aimed to expedite trade, reduce costs, and support India’s logistics goals, but these objectives are now at risk.
• Strained Relations: The conflict could negatively impact India’s efforts to strengthen ties with the Arabian Peninsula and Europe.

Way Forward:

• Balancing Geopolitics: Careful management is needed to accommodate the interests of participating nations while addressing potential political sensitivities.
• Security Measures: Implementing robust security measures is crucial as the project traverses unstable regions.