India-Middle East-Europe Economic Corridor (IMEC)

Former US President Joe Biden highlighted the potential realization of the India-Middle East-Europe Economic Corridor (IMEC) following the Israel-Hamas ceasefire.

• The India-Middle East-Europe Economic Corridor (IMEC) is a connectivity project aimed at enhancing trade by creating infrastructure like ports, railways, roads, sea lines, and pipelines.
• Announced in 2023 during the G20 meeting, it involves a MoU between the European Union, India, the US, Saudi Arabia, UAE, France, Germany, and Italy.
• It consists of two corridors: an eastern corridor from India to the Arabian Gulf, and a northern corridor from the Gulf to Europe.
• The corridor will include a shipping route from Mumbai and Mundra (Gujarat) to the UAE, a rail network linking the UAE, Saudi Arabia, Jordan, and Israel, and a sea route from Haifa to Piraeus (Greece).