On the sidelines of the G20 Summit in New Delhi, a Memorandum of Understanding (MoU) was signed to establish the India – Middle East – Europe Economic Corridor (IMEC).
IMEC is being envisioned as a network of transport corridors, including railway lines and sea lanes, that is expected to aid economic growth through integration between Asia, the Arabian Gulf, and Europe.
It is a part of the Partnership for Global Infrastructure Investment (PGII) — a West-led initiative for funding infrastructure projects across the world, seen as a counter to China’s Belt and Road Initiative (BRI).
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