Game-changer at Global stage - the India-Middle East-Europe Corridor and will it benefit India?
Prime Minister Narendra Modi and French President Emmanuel Macron reviewed the India-Middle East-Europe Corridor project on Wednesday in France and agreed to work on it together.
A fully operational IMEEC promises to bolster India's maritime security while expediting the movement of goods between Europe and Asia. The initiative will enhance India's shipping capabilities and port infrastructure.
It is also expected that the project will act as a strategic countermeasure to China's Belt and Road Initiative.
The route, currently being used to bypass the Houthi blockade, is widely seen as a way to future proof the India-Europe-US supply chain avoiding the Suez canal.
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| map sketch courtesy: India Today |
The India-Middle East-Europe Corridor was launched on the margins of the G20 Summit in Delhi in September 2023
At the latest meeting on Wednesday, Feb 12, 2025, both PM Modi and President Macron agreed that the two countries should work more closely on building IMEEC.
The two leaders stressed the importance of India-Middle East-Europe Corridor to foster connectivity, sustainable growth trajectories and access to clean energy across these regions.
"India-Middle East-Europe Corridor (IMEEC) is vital for bilateral interests, enhancing strategic supply chains and boosting security in economic, energy, and health sectors across India, Europe, and the Middle-East,” PM said after he reviewed the project along with French President Emmanuel Macron.
The IMEEC, launched on the margins of the G20 Summit in Delhi in September 2023, is an important project as it passes through Marseille in the Mediterranean Sea.
On 9 September, 2023 the Memorandum of Understanding (MoU) was signed during the 2023 G20 New Delhi summit by India, United States, United Arab Emirates, Saudi Arabia, France, Germany, Italy and the European Union.
"The IMEEC will comprise of two separate corridors, the east corridor connecting India to the Gulf and the northern corridor connecting the Gulf to Europe.
The corridor intends to enhance connectivity, increase efficiency, reduce costs, secure regional supply chains, increase trade accessibility, generate jobs and lower greenhouse gas emissions, resulting in a transformative integration of Asia, Europe and Middle East," the Ministry of External Affairs (MEA) said in 2024.
The project, however, had failed to make headway because of the Gaza conflict.
The IMEEC aims to integrate India, Europe, and the Middle-East through UAE, Saudi Arabia, Jordan, Israel and the European Union.
The IMEEC seeks to mobilise $600 billion by 2027 to address infrastructure gaps in partner countries. The memorandum of understanding on IMEEC outlines political commitments from the participants and does not establish legal rights or obligations.
The implementation of the IMEEC involves multiple stakeholders and is at an initial stage, the Govt informed parliament in a written reply in August 2024.
It added that an Intergovernmental Framework Agreement (IGFA) between India and the United Arab Emirates (UAE) concerning cooperation for operation of the IMEEC was signed on 13 February 2024.
The main elements of the Framework include development and management of a logistics platform, including a digital ecosystem, and provision of supply chain services to handle all types of general cargo, bulk, containers and liquid bulk in order to enable IMEEC.
"India-Middle East-Europe Economic Corridor (IMEC) is an important initiative that can add to India's maritime security and faster movement of goods between Europe and Asia," Union Commerce Minister Piyush Goyal had said at the Confederation of Indian Industry (CII) India-Mediterranean Business meet.
The corridor will also drive a significant increase in trade demand and supply across the region, reducing transaction costs and creating new job opportunities. IMEEC will facilitate industrial development and improve access to the European market, further securing India's supply chain through improved logistical services.
Beyond economic benefits, IMEEC offers a vital platform for cultural and political exchange.
By facilitating cross-cultural interactions and fostering mutual understanding, the initiative can bridge ideological and religious divides, promoting tourism, educational opportunities, and a more integrated regional identity.
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