The India-Middle East-Europe Economic Corridor (IMEC) is a big-ticket plan to connect India, West Asia, and Europe via modern transport and communications to boost economic integration. Launched during the 2023 G-20 Summit in New Delhi, it has been touted as an alternative to China’s Belt and Road Initiative.
Launched in 2021, the I2U2 initiative, which involves India, the UAE, Israel and the United States, complements the IMEC in West Asia.The brief appearance of the IMEC and the I2U2 initiatives comes amid efforts to end the conflict in Gaza. Both initiatives have been disrupted due to Israel’s ongoing conflict in Gaza and its tense relations with the Arab world in the aftermath.
India sees a great economic opportunity to reduce trade and transaction costs with West Asia and Europe, especially via the IMEC. Notably, several countries in the EU and West Asia are already among India’s top trade partners.
On the other hand, the US continues to see the initiatives, especially the IMEC, as a geopolitical tool to counter China’s growing influence in West Asia.
In a recent article for The Atlantic Council, William F Weschler argued that the IMEC and I2U2 would not only help the US cut transportation costs but also benefit several American infrastructure companies.
“A completed overland route would reduce the number of ships travelling through the Bab-el-Mandeb Strait connecting the Red Sea to the Gulf of Aden, and thus the requirements for the US Navy to defend against Houthi attacks on shipping,” the article noted.
With French President Emmanuel Macron already announcing a dedicated “IMEC Envoy” during PM Modi’s recently concluded France trip, in what could be a big thumbs up to the long-stalled project, Trump’s endorsement could give further impetus to the initiative.
Catch all other highlights from the Modi, Trump meeting in the US here.
First Published: Feb 14, 2025 9:25 am IS
