Overview

• The India-Middle East-Europe Economic Corridor (IMEC) aims to reduce logistics costs by up to 30% and transit times by 40% through integrated rail, road, pipeline, and digital infrastructure.
• India is in active discussions with Singapore, Saudi Arabia, and the UAE to finalize clean energy transmission agreements as part of the corridor's development.
• The proposed corridor includes sustainable infrastructure such as undersea cables, clean energy pipelines, and digital connectivity systems, prioritizing environmental and economic sustainability.
• Piyush Goyal advocates for a public-private partnership model and innovative financing mechanisms, including green bonds and long-term 'IMEC Bonds,' to ensure financial viability.
• Regulatory alignment, including interoperable digital systems like India’s UPI, is highlighted as a critical component to streamline trade and customs processes across participating nations.