{"id":14513,"date":"2023-09-10T03:19:00","date_gmt":"2023-09-09T21:49:00","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=14513"},"modified":"2025-04-02T21:08:18","modified_gmt":"2025-04-02T15:38:18","slug":"india-middle-east-europe-economic-corridor","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/india-middle-east-europe-economic-corridor\/","title":{"rendered":"India-Middle East-Europe Economic corridor"},"content":{"rendered":"<h2><strong>About India-Middle East-Europe Economic corridor:<\/strong><\/h2>\n<ul>\n<li>The project includes\u00a0<strong>India, the UAE, Saudi Arabia, the European Union, France, Italy, Germany and the US.<\/strong><\/li>\n<li>The project will aim to enable\u00a0<strong>greater trade among the involved countries<\/strong>, including energy products.\u00a0<\/li>\n<li>The IMEC comprises an\u00a0<strong>Eastern Corridor connecting India to the Gulf region<\/strong> and a\u00a0<strong>Northern Corridor<\/strong> connecting the\u00a0<strong>Gulf region to Europe.<\/strong><\/li>\n<li>It will include a railway and\u00a0<strong>ship-rail transit network and road transport routes.<\/strong><\/li>\n<li>The corridor will include a rail link as well as an electricity cable, a hydrogen pipeline and a high-speed data cable.<\/li>\n<li>In the coming times, it will be a major medium of economic integration between India, West Asia and Europe.<\/li>\n<li>The rail and shipping corridor is part of<strong> the Partnership for Global Infrastructure Investment (PGII)\u00a0<\/strong><\/li>\n<li><strong>Significance<\/strong>\n<ul>\n<li>It would\u00a0<strong>increase prosperity<\/strong> among the countries involved through an\u00a0<strong>increased flow of energy and digital communications.<\/strong><\/li>\n<li>The project would help deal with the lack of infrastructure needed for growth in lower- and middle-income nations.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3>Key facts about\u00a0the PGII<\/h3>\n<ul>\n<li>It is a collaborative effort\u00a0<strong>by G7 nations<\/strong> to fund infrastructure projects in developing nations.<\/li>\n<li>It is a developmental initiative aimed\u00a0<strong>at narrowing the infrastructure gap<\/strong> in developing countries as well as help towards accelerating progress on SDGs globally.<\/li>\n<li>The infrastructure plan was first announced in June 2021 during the G7 Summit in the UK.<\/li>\n<li>Collectively it aims\u00a0<strong>to mobilise nearly $600 billion from the G7 by 2027<\/strong> to invest in critical infrastructure that improves lives and delivers real gains for all of our people.\u201d<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<hr \/>\n<h3>Q1) What is G20?<\/h3>\n<p>It is an international forum of major economies that brings together 19 individual countries and the European Union (EU) to discuss and coordinate economic policy. The G20 represents a diverse group of nations from different regions of the world, and it serves as a platform for dialogue and cooperation on various global economic issues.<\/p>\n<p><strong>Source:<\/strong> <a href=\"https:\/\/indianexpress.com\/article\/explained\/explained-global\/india-middle-east-europe-economic-corridor-what-is-the-project-why-is-it-being-proposed-8932332\/\" target=\"_blank\" rel=\"nofollow noopener\">India-Middle East-Europe mega economic corridor: What is the project? Why is it being proposed?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>India-Middle East-Europe Economic corridor aims to enable greater trade among the involved countries, including energy products. <\/p>\n","protected":false},"author":5,"featured_media":14514,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-14513","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/14513","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=14513"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/14513\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/14514"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=14513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=14513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=14513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}