Prime Minister Narendra Modi and French President Emmanuel Macron today agreed that the two countries should work more closely on the construction of the Indo-Madhya Pradesh East-European Corridor (IMEEC).
IMEEC is an important project as it passes through Marsile in the Mediterranean Sea.
Marsile, where PM Modi today went to pay tribute to Indian soldiers, who died in the First World War with his French counterparts, live in a strategic place in the Mediterranean Sea.
It is at the intersection of the global shipping routes and is posted as the natural entrance to southern Europe.
The importance of the city is such that PM Modi and Mr. Macron inaugurated an Indian consulate in this port city. The Prime Minister said that this consulate would serve as an important bridge, which would strengthen cultural, economic and people’s relations between India and France.
A completely operating IMEEC will improve India’s marine security and ensure a rapid movement of goods between Europe and Asia. IMEEC was launched during India’s G20 Presidency.
Some analysts saw it as one of the counselor against China’s Belt and Road Initiative (BRI), a large -scale infrastructure project, which Chinese President Xi Jinping to expand abroad abroad of his country abroad The dialect has a central pillar.
Western critics accused China of using BRIs, developing developing countries in uncertain debt to take diplomatic advantage or even seize their assets. Many countries have returned from BRI.
The objective of IMEEC is to integrate through the United Arab Emirates, Saudi Arabia, Jordan, Israel and the European Union in India, Europe and Middle East.
India and the Mediterranean countries have a huge interest in the shipping sector, whether it is in a ship -making, ownership, maritime field or cruise business.
India sees a big opportunity in developing ports and has doubled its port capacity in the last decade.
IMEEC will have two separate corridors – the eastern corridor connects India to the Gulf, and connects the northern corridor to Gulf. The intent of corridor intends to increase connectivity, increase efficiency, secure regional supply chains, increase business access, generate employment and reduce greenhouse gas emissions, resulting in transformative of Asia, Europe and Middle East Integration occurs
The implementation of IMEEC involves many stakeholders and is in an early stage, Foreign Minister Kirti Vidhan Singh told Parliament in a written reply in August 2024.
IMEEC wants to raise $ 600 billion by 2027 to address infrastructure gaps in partner countries. The memorandum of understanding on the IMECC underlines political commitments from the participants and does not establish legal rights or obligations.
After a visit to France, PM Modi left for the US, where he will interact with US President Donald Trump.
