India-led IMEC challenges China's BRI
ROADS & HIGHWAYS

India-led IMEC challenges China's BRI

On the sidelines of the G20 Summit in New Delhi, India, a Memorandum of Understanding (MoU) was signed by India, the US, UAE, Saudi Arabia, France, Germany, Italy, and the European Union to establish the India-Middle East-Europe Economic Corridor (IMEC). This initiative is viewed as an alternative to China's Belt and Road Initiative (BRI). Amitabh Kant, G20 Sherpa, expressed that IMEC could have profound global economic implications, deepening physical connectivity, unlocking commercial opportunities, setting new infrastructure financing standards, and reshaping global trade routes. He highlighted that the eight IMEC signatories represent half of the global economy and 40% of the world's population. IMEC aims to connect commercial hubs, promote clean energy development and export, expand energy grids and telecommunications, advance clean energy technologies, and improve Internet access. The project is envisioned as a green and digital bridge fostering economic cohesion, job creation, and reduced greenhouse gas emissions.

Russian President Vladimir Putin welcomed the IMEC initiative, stating it would benefit Russia and enhance logistics, while also affirming it wouldn't harm existing projects. He noted that IMEC aligns with Russia's North–South corridor, offering an alternative route to the Mediterranean via the Black Sea. Putin praised PM Modi's "Make in India" program and highlighted the importance of domestically made products.

Keywords: 

On the sidelines of the G20 Summit in New Delhi, India, a Memorandum of Understanding (MoU) was signed by India, the US, UAE, Saudi Arabia, France, Germany, Italy, and the European Union to establish the India-Middle East-Europe Economic Corridor (IMEC). This initiative is viewed as an alternative to China's Belt and Road Initiative (BRI). Amitabh Kant, G20 Sherpa, expressed that IMEC could have profound global economic implications, deepening physical connectivity, unlocking commercial opportunities, setting new infrastructure financing standards, and reshaping global trade routes. He highlighted that the eight IMEC signatories represent half of the global economy and 40% of the world's population. IMEC aims to connect commercial hubs, promote clean energy development and export, expand energy grids and telecommunications, advance clean energy technologies, and improve Internet access. The project is envisioned as a green and digital bridge fostering economic cohesion, job creation, and reduced greenhouse gas emissions.Russian President Vladimir Putin welcomed the IMEC initiative, stating it would benefit Russia and enhance logistics, while also affirming it wouldn't harm existing projects. He noted that IMEC aligns with Russia's North–South corridor, offering an alternative route to the Mediterranean via the Black Sea. Putin praised PM Modi's Make in India program and highlighted the importance of domestically made products.Keywords: 

Next Story
Infrastructure Urban

Afcons shares gain momentum with Bhopal Metro Line 2 project

Afcons Infrastructure made a quiet debut on the stock market on Monday but quickly gained momentum after emerging as the lowest bidder for the Bhopal metro project line 2 package.The Bhopal Metro Phase 1 project’s 12.915 km Blue Line (Line-2) will link Bhadbhada Chauraha and Ratnagiri Tiraha, spanning 13 elevated stations. This package, issued by the Madhya Pradesh Metro Rail Corporation (MPMRCL), involves constructing all 13 stations of the Blue Line’s viaduct. The depot will also be shared with the Orange Line (Karond Circle to AIIMS) for maintenance and stabling purposes.Afcons’ exten..

Next Story
Infrastructure Transport

Locals urge CM to opt for road bypass over flyover at Dandeavaddo

Chinchinim villagers respectfully requested Pramod Sawant, Chief Minister, to instruct the Public Works Department (PWD) and the National Highway authorities to construct a road bypass instead of a flyover on the Dandeavaddo stretch of NH66. The villagers, led by Sarpanch Frank Viegas and Velim MLA Cruz Silva, also raised the long-standing issue of building the Chinchinim Panchayat Ghar and a multi-purpose project on panchayat land that was acquired more than 15 years ago. The delegation met the Chief Minister at the St. Sebastian Chapel junction in Chinchinim as he was returning home from a..

Next Story
Infrastructure Transport

MLA Yashpal Suvarna Announces Malpe-Udupi Highway Construction from Nov 6

MLA Yashpal Suvarna instructed officials to commence work on the Malpe-Udupi Highway on Wednesday. A meeting took place, attended by MP Kota Shrinivas Poojary, Udupi MLA Yashpal Suvarna, and Kaup MLA Suresh Shetty Gurme, to discuss the National Highway 169A project, which spans from Malpe to Udupi, covering areas like Hiriyadka, Parkala, and Perdur. The project had experienced delays due to incomplete land acquisition, but compensation notices have now been issued to the landowners. Of the 214 land acquisition files, 19 pertain to government land, while 195 involve private owners. Notices ha..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000