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

About India-Middle East-Europe Economic Corridor (IMEEC)

• It was announced on the sidelines of the G20 meeting in New Delhi when a memorandum of understanding 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 corridor will provide a reliable and cost-effective cross-border ship-to-rail transit network to supplement existing maritime routes. 
• 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 IMEEC will comprise two separate corridors, the east corridor connecting India to the Gulf and the northern corridor connecting the Gulf to Europe.
• 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.
• Beyond the transport infrastructure, undersea cables would facilitate the exchange of data, while long-distance hydrogen pipelines would boost the participants’ climate and decarbonisation goals.

Q1: What is A Defence Industrial Corridor?

It is a dedicated region or area strategically planned to promote indigenous production of defence and aerospace-related items. It aims to reduce imports, enhance exports, and strengthen the domestic defence manufacturing ecosystem.

Source: India, UAE Hold Talks To Advance Middle East-Europe Economic Corridor