The Finance Minister said that the Israel-Hamas war is a challenge for the India-Middle East-Europe Economic Corridor.

IMEC Update: A war between Israel and Hamas could affect the India-Middle East Europe Economic Corridor, which was announced during the G-20 summit in September 2023. Finance Minister Nirmala Sitharaman himself has expressed this concern. The finance minister said the India-Middle East-Europe Economic Corridor, which was announced during the G-20 summit, was facing global political challenges due to the current tensions.

Addressing the Indo-Pacific Regional Dialogue 2023, the Finance Minister said that the India-Middle East Europe Economic Corridor is in the interest of all countries. This will increase efficiency in transportation, reduce logistics costs, increase economic integration, create employment opportunities and reduce greenhouse gas emissions, thereby contributing to a cleaner, safer, better world. Will contribute. He said that it also faces geopolitical challenges and the ongoing conflict in Israel and Gaza is a worrying situation.

The war between Israel and Hamas started on October 7, 2023. Attacks on Israel by the Palestinian Islamic organization Hamas and then Israel’s countermeasures continue. Since then, there have been fears that the war between Israel and Hamas could have an impact on the India-Middle East Europe Economic Corridor. Under this corridor, a railway line is to be laid from the Gulf countries to Europe.

To crack down on China, during the G20 summit in the presence of US President Joe Biden, Indian Prime Minister Narendra Modi and the heads of state of Saudi Arabia and the United Arab Emirates, under a joint infrastructure deal, shipping and rail from India A network was announced to connect the Gulf countries to Europe. The corridor will be connected to India through shipping lines and rail networks from Gulf countries to Europe. Connectivity between India, Middle East and Europe is very important and will not only bring economic benefits to all countries but also has strategic importance. But this corridor is in the shadow of the ongoing war between Israel and Hamas.

Also read this

RBI Says: Major RBI action against Bajaj Finance, ban on lending under Ecom and Insta EMI cards

(Tags Translation) Nirmala Sitharaman (T) Israel Hamas War

Leave a Comment