What is India-Middle East-Europe Economic Corridor (IMEEC)?

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About India-Middle East-Europe Economic Corridor (IMEC):

It is a connectivity project that seeks to develop a seamless infrastructure of ports, railways, roads, sea lines, and pipelines to enhance trade among India, the Arabian Peninsula, the Mediterranean region, and Europe.
It was announced in 2023 on the sidelines of the G20 meeting in New Delhi when a memorandum of understanding (MoU) was signed between the European Union and seven countries, namely India, the US, Saudi Arabia, the United Arab Emirates (UAE), France, Germany, and Italy.
The IMEC will comprise two separate corridors, the eastern corridor connecting India to the Arabian Gulf and the northern corridor connecting the Gulf to Europe.
Upon completion, the corridor will have a cost-effective and reliable cross-border railway network, which will be supplemented by the available road transport and maritime routes.
The corridor will include a shipping route connecting Mumbai and Mundra (Gujarat) with the UAE and a rail network connecting the UAE, Saudi Arabia, and Jordan with the Israeli port of Haifa to reach the shores of the Mediterranean Sea.
Haifa will then be connected by sea to the port of Piraeus in Greece to eventually be connected to Europe.
In addition, along the corridor, the countries will also lay the network of electricity grids, optical fiber cable for digital connectivity, and pipeline for the transportation of hydrogen gas.
It intends to increase efficiency, reduce costs, secure regional supply chains, increase trade accessibility, enhance economic cooperation, generate jobs, and lower greenhouse gas emissions.
The corridor will be supported by the Partnership for Global Infrastructure and Investment (PGII), a US-led initiative to bridge the infrastructure gap in developing countries.

Q1: What is the aim of the India Middle East Europe Corridor (IMEC)?

IMEC seeks to develop a seamless infrastructure of ports, railways, roads, sea lines, and pipelines to enhance trade among India, the Arabian Peninsula, the Mediterranean region, and Europe.

Source: ET