New Delhi: During the Union Budget Speech 2024, Union Finance Minister Nirmala Sitharaman told about many schemes of the Central Government. During this, he gave information about the benefits received by the country from many schemes of Modi government. Meanwhile, he also mentioned the India-Middle-East-Europe Corridor Project. He said that this project has proved to be a game changer for the country. He said that this has increased India’s dominance across the world. Let us know what is this project, which was mentioned during the budget speech.
During September 2023, leaders from all over the world gathered for the G20 conference in the country’s capital Delhi. It was during this period that the discussion on the India-Middle East-Europe Corridor Project began and it was during this period that the heads of many countries expressed their consent to this project. Under this project, there will be an initiative on cooperation on connectivity and infrastructure involving India, UAE, Saudi Arabia, EU, France, Italy, Germany and the US.
What is this project and who is involved in it?
The India-Middle East-Europe Economic Corridor (IMEC) project will include railways, ship-to-rail networks and road transport routes spanning the two corridors. In this, Arab countries will be connected to India through the Eastern Corridor. The Gulf countries will be connected to Europe in the Northern Corridor. Along with this, the IMEC corridor will also include an electricity cable, a hydrogen pipeline and a high-speed data cable. India, America, Saudi Arabia, United Arab Emirates, European Union, Italy, France and Germany are participating in this project.
India-Middle East-Europe Economic Corridor Project
Which ports will be included in this project?
Many ports around the world will be connected in the India-Middle East-Europe Economic Corridor Project. It will have the ports of India’s Mundra Port (Gujarat), Kandla Port (Gujarat) and Jawaharlal Nehru Port Trust (Navi Mumbai). Apart from this, in the Middle East, Fujairah, Jebel Ali and Abu Dhabi in UAE as well as Dammam and Ras Al Khair ports in Saudi Arabia will come under this project. Along with this, Haifa Port of Israel and Piraeus Port of Greece in Europe, Messina in South Italy and Marseille Port in France are included in this plan. A railway line will connect Fujairah Port (UAE) to Haifa Port (Israel) through Saudi Arabia (Ghuwaifat and Harad) and Jordan.
Why was this project started?
However, this project aims to create a comprehensive transportation network connecting India, the Middle East and Europe, which includes rail, road and sea routes. But from the point of view of global politics, India is trying to fail China’s BRI project through this plan. It is believed that this plan can work to balance the growing economic and political influence of China. With this the MEC bypassed Pakistan, breaking its veto on India’s overland connectivity with the West, which had been a persistent obstacle in the past.
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