The United States, along with Saudi Arabia, India, and other nations, is engaged in discussions about a potential infrastructure deal aimed at connecting Middle Eastern countries through railways and ports, in an effort to reshape trade routes between the Gulf and South Asia and counter China's Belt and Road initiative.
US President Joe Biden described India's plan to build a rail and shipping corridor linking India with the Middle East and Europe as a "game-changing investment" during the G20 Summit, aiming to boost trade, transport energy resources, and improve digital connectivity.
India, along with several countries including the UAE, Saudi Arabia, EU, France, Italy, Germany, and the US, will launch an economic corridor connecting India, the Middle East, and Europe, which is expected to significantly boost trade and connectivity.
India, along with the US, EU, Saudi Arabia, and UAE, has signed a deal to establish the India-Middle East-Europe Economic Corridor (IMEE EC) as an alternative to China's One Belt One Road (OBOR) initiative, aiming to provide faster and cheaper transportation options to west Asia and Europe.
The proposed India-Middle-East-Europe Corridor, seen as a rival to China's Belt And Road Project, will be a bankable project that brings in revenue and avoids the debt trap, according to Railway Minister Ashwini Vaishnaw.
The announcement of the India-Middle East-Europe Economic Corridor (IMEC) has triggered a backlash in Pakistan, with many citizens viewing it as a wake-up call and expressing discontent towards their government.
Israel is set to become a global transportation hub as it plays a crucial role in the proposed India-Middle East-Europe Economic Corridor, which will connect the three regions through rail, gas, and fiber optics lines.
A new multibillion-dollar rail and shipping corridor called the India-Middle East-Europe Economic Corridor was announced at the G20 summit, which aims to enhance connectivity and integration between participating countries and boost economic growth in the Middle East.
The plan by the U.S. and India to build an alternative to China's Belt and Road Initiative could lead to better deals for countries along the route and is seen as healthy competition by participants at a conference in Hong Kong.
India-Middle East-Europe Economic Corridor, proposed by India, the US, United Arab Emirates, and Saudi Arabia, aims to create shipping and railway links that will connect Europe and the Middle East to India and counter China's 'Belt and Road' initiative.
Israel's declaration of war on Hamas could impact India's plans to build an India-Middle East-Europe economic corridor, as it may drive up insurance premiums and shipping costs and derail the entire project unless all countries in the region are on board. Israel is India's 11th largest trade partner, and any disruption in trade could hurt India economically.
