IMEC

A Promise of an Interconnected World Amid Global Tumult

- Col Rajeev Agarwal (Retired)

The world is in churn amid tariff wars, economic sanctions and continuing conflicts across the globe. Countries are closing in with protectionist measures and policies aimed at "Making Country Great Again' slogans. The established world order is collapsing (if not effectively collapsed). The UN is unable to stop conflicts, has no say in militarily superior nations launching assaults into sovereign territories of other nations, often at flimsy pretexts, and its desperate calls against genocides are left unattended. WTO, similarly, has lost its teeth, is unable to resolve trade disputes and is left to watch as a bystander as countries impose tariffs on other countries, often at the whims of their leaders.

Amid this prevailing global scenario of gloom and despair, connectivity is emerging as the new buzzword, promising to unlock the untapped economic potential by integrating countries and regions together through corridors and trade linkages. India-Middle East-Europe Economic Corridor (IMEC) is definitely presenting itself as one such connectivity option. Pitched as a bold and transformative connectivity project, the IMEC was launched at the G20 Summit in New Delhi on 9th September 2023. In its concept, it is a bold vision to connect India with Europe across the deserts of the Arabian Peninsula. It envisions a multi-modal economic corridor involving multiple businesses, integrating railways, ports, highways, energy networks, and digital infrastructure to enhance trade, investment, and connectivity across the continents.

The Structure