Which regions are interconnected through the IMEC corridor initiative?
Show answer & explanation
Correct answer: B
Explanation
Solution: The correct answer is India to Middle East to Europe.
Explanation:
☛ IMEC stands for the India-Middle East-Europe Economic Corridor.
☛ This historic initiative was officially announced on 9 September 2023 on the sidelines of the G20 New Delhi Summit.
☛ The project aims to stimulate economic development through enhanced connectivity and economic integration between Asia, the Arabian Gulf, and Europe.
☛ It comprises two distinct corridors: the Eastern Corridor connecting India to the Arabian Gulf, and the Northern Corridor connecting the Arabian Gulf to Europe.
☛ Along with railway and ship-to-rail transit networks, IMEC will enable the laying of electricity cables, a clean hydrogen export pipeline, and high-speed digital connectivity links.
Extra Exam-Relevant Facts:
☛ The signatories of the IMEC Memorandum of Understanding (MoU) include India, the USA, the UAE, Saudi Arabia, France, Germany, Italy, and the European Union.
☛ Partnership for Global Infrastructure and Investment (PGII): IMEC is a prominent infrastructure initiative under the G7-led PGII framework.
☛ International North-South Transport Corridor (INSTC): A 7,200-km multi-modal transport network linking India, Iran, Azerbaijan, and Russia to Central Asia and Europe.
Important One-Liners for Upcoming Exams:
☛ During which summit was the IMEC initiative unveiled? → 18th G20 Summit (New Delhi, 2023)
☛ What is the main objective of the Eastern Corridor of IMEC? → Connecting India to the Arabian Gulf
☛ What is the main objective of the Northern Corridor of IMEC? → Connecting the Arabian Gulf to Europe
☛ In which year was the INSTC agreement originally signed by India, Iran, and Russia? → 2000 (St. Petersburg)
☛ Which Iranian port is being developed by India to boost trade connectivity with Central Asia? → Chabahar Port