Why in the News?
India and Italy have decided to enhance cooperation in trade, defence, clean energy, and high technology while working jointly on the India-Middle-East-Europe-Economic Corridor (IMEEC).
About IMEEC Project:
- IMEEC is a key initiative under the Partnership for Global Infrastructure and Investment (PGII), aimed at infrastructure development in developing regions.
- It was formally endorsed on September 10, 2023, during the 2023 G20 New Delhi summit.
- Signatories include: India, United States, UAE, Saudi Arabia, France, Germany, Italy, and the European Union.
- Objective: To integrate Asia, Europe, and the Middle East to boost economic cooperation, trade, and regional connectivity.
- IMEEC consists of two main corridors:
- East Corridor: Connecting India to the Arabian Gulf.
- Northern Corridor: Connecting the Gulf region to Europe.
- Key Ports to be Connected:
- India: Mundra, Kandla, Jawaharlal Nehru Port Trust (Mumbai).
- Middle East: Fujairah (UAE), Jebel Ali (Dubai), Dammam (Saudi Arabia).
- Israel: Haifa Port.
- Europe: Piraeus (Greece), Messina (Italy), Marseille (France).
Significance of the Project:
- IMEEC will create a cost-efficient ship-to-rail transit network, enhancing existing transport links.
- The project will transform regional trade dynamics and foster sustainable economic growth.
| [UPSC 2023] With reference to India’s projects on connectivity, consider the following statements:
1. East-West Corridor under Golden Quadrilateral Project connects Dibrugarh and Surat. 2. Trilateral Highway connects Moreh in Manipur and Chiang Mai in Thailand via Myanmar. 3. Bangladesh-China -India -Myanmar Economic Corridor connects Varanasi in Uttar Pradesh with Kunming in China. Which of the statements given above is/are correct? (a) 1 only (b) 2 only (c) Both 1 and 2 (d) Neither 1 nor 2 |
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