IMEC corridor(India-MiddleEast-Europe-Economic corridor)

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DID You Know?:

🔍 Why was I.M.E.C corridor initiated ?
🔍 Significance of  I.M.E.C
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1. Why was I.M.E.C corridor initiated ?
The economic powerhouses of India and Europe faced a significant geographical challenge with the ancient trade route passing through disputed territories, vulnerable to blockades by adversaries during times of political crisis. This necessitated the exploration of an alternative route in collaboration with their economic allies to circumvent potential disruptions. This route was I.M.E.C Many countries supported this initiative due to the shorter distance of the new route compared to the traditional one, as well as its strategic response to China's Belt and Road initiatives. But, the one who initiated was neither India nor any Middle East Nation nor any European Nation, it was U.S.A. though, U.S.A. was not geographically involved It was to improve India US economic ties
2. Significance of I.M.E.C
I.M.E.C(India Middle East Europe Economic Corridor) the great economic corridor not only due to its economic importance but also since it counters economic dependence on china or disputed regions for connectivity. The possible route was very narrow and vulnerable to be blocked due to a war or conflict with adversaries. It also shattered China's Belt and Road Initiative, which was quite similar to the ancient silk route while I.M.E.C was based on the current economic partners and smaller distance while has sea routes, train & road. While it also enhances transportation efficiency, reduction of cost, economic unity, and minimal carbon footprint.
3. What's Other countries response to I.M.E.C?
  1. Turkey: Turkey's president Erdoğan has Recently announced in opposition of I.M.E.C, "no corridor can be made without turkey” for following reasons: It is afraid that the belt & road initiative which would possibly help it might get countered, and it may fall into Recession while the other reason is to become a major monopolist of trade between Europe and Asia.
  2. Russia:  Russian President Vladimir Putin has said that the I.M.E.C will benefit Russia by developing logistics. He also said that the project has been under discussion for several years which shows the bilateral nature of the economic corridor

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