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India’s answer to China’s belt and road starts to take shape
Analysts say the India-Middle East-Europe Economic Corridor could transform global trade flows, but there’s much work still to be done
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India has launched a renewed diplomatic offensive to drive forward an ambitious infrastructure project that analysts say could redraw global trade routes and serve as a strategic counterweight to China’s sprawling Belt and Road Initiative.
The India-Middle East-Europe Economic Corridor (IMEC), as the project is known, is envisioned as a network of railways, shipping lanes, energy pipelines and high-speed data cables connecting South Asia, the Gulf and Europe.
“IMEC enhances India’s connectivity, economic opportunities and global standing, while also serving as a multilateral counterbalance to China’s [Belt and Road Initiative], in partnership with the G7 and regional players,” foreign affairs specialist Robinder Sachdev told This Week in Asia.
But the project has faced numerous hurdles. The Gaza conflict, which erupted on October 7, 2023 – just a month after IMEC’s unveiling at the G20 summit in New Delhi – threw a wrench into proceedings. Regional tensions and logistical challenges stemming from the hostilities have delayed key developments.
Still, momentum is building. During Prime Minister Narendra Modi’s recent visit to Washington, India and the United States confirmed plans to convene IMEC partners within six months to unveil new initiatives before year’s end.
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