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India Says IMEC Trade Corridor Stalled by Middle East Tensions
(MENAFN) India's External Affairs Minister Subrahmanyam Jaishankar delivered a candid assessment of the stalled India-Middle East-Europe Corridor at Munich Security Conference on Saturday, acknowledging the ambitious infrastructure project is "progressing but not at pace initially expected."
The multinational railway and shipping initiative—unveiled in 2023 by India, the US, Saudi Arabia, the United Arab Emirates, Israel, France, Germany, Italy, and the EU—was designed to revolutionize trade routes, energy distribution, and digital infrastructure linking South Asia to Europe via the Middle East.
During a panel titled "Navigating Uncertainty: India and Germany in a World in Disarray," Jaishankar was questioned directly about IMEC's trajectory.
"Answer is kind of yes. But not at the pace at which people initially expected it to, which is understandable, because there was a big conflict going on in the Middle East, and everybody's attention was on that conflict," Jaishankar responded.
The minister emphasized substantial "big European and Indian interest" in the corridor, clarifying its core mission: "purpose of the IMEC is really to address connectivity, logistics issues, and improve the economy…the purpose of the IMEC is not to solve the Palestinian issue."
Jaishankar framed the delays within broader global disruptions, stating the world is "heading towards greater multipolarity" where "there will be many more independent or autonomous centers of decision-making."
He cited multiple crises that delivered "a series of shocks" to international order and "accelerated" its transformation over five years.
"COVID-19 was a shock, the conflict in Ukraine was a shock. What's happening in the Middle East was a shock ... even in Europe, some years ago, Brexit was a shock," he explained.
Addressing questions about India's energy policy following the recent India-US trade agreement and its implications for Russian oil imports, Jaishankar defended his nation's independence.
"We are very much wedded to strategic autonomy. Because it's very much a part of our history and our evolution," he declared.
"Where the energy issues are concerned, look, this is today a complex market," he continued. "I think oil companies in India, as in Europe, as probably in other parts of the world, look at availability, look at costs, look at risks, and take the decisions that they feel is in their best interest."
The multinational railway and shipping initiative—unveiled in 2023 by India, the US, Saudi Arabia, the United Arab Emirates, Israel, France, Germany, Italy, and the EU—was designed to revolutionize trade routes, energy distribution, and digital infrastructure linking South Asia to Europe via the Middle East.
During a panel titled "Navigating Uncertainty: India and Germany in a World in Disarray," Jaishankar was questioned directly about IMEC's trajectory.
"Answer is kind of yes. But not at the pace at which people initially expected it to, which is understandable, because there was a big conflict going on in the Middle East, and everybody's attention was on that conflict," Jaishankar responded.
The minister emphasized substantial "big European and Indian interest" in the corridor, clarifying its core mission: "purpose of the IMEC is really to address connectivity, logistics issues, and improve the economy…the purpose of the IMEC is not to solve the Palestinian issue."
Jaishankar framed the delays within broader global disruptions, stating the world is "heading towards greater multipolarity" where "there will be many more independent or autonomous centers of decision-making."
He cited multiple crises that delivered "a series of shocks" to international order and "accelerated" its transformation over five years.
"COVID-19 was a shock, the conflict in Ukraine was a shock. What's happening in the Middle East was a shock ... even in Europe, some years ago, Brexit was a shock," he explained.
Addressing questions about India's energy policy following the recent India-US trade agreement and its implications for Russian oil imports, Jaishankar defended his nation's independence.
"We are very much wedded to strategic autonomy. Because it's very much a part of our history and our evolution," he declared.
"Where the energy issues are concerned, look, this is today a complex market," he continued. "I think oil companies in India, as in Europe, as probably in other parts of the world, look at availability, look at costs, look at risks, and take the decisions that they feel is in their best interest."
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