https://sputniknews.in/20231011/india-europe-middle-east-corridor-in-jeopardy-bound-to-get-delayed-say-experts--4745603.html
India-Europe-Middle East Corridor In Jeopardy, Bound to Get Delayed: Experts
India-Europe-Middle East Corridor In Jeopardy, Bound to Get Delayed: Experts
Sputnik India
The Israel-Hamas war could disrupt the shipping and trade routes in the region, including the under construction India-Europe-Middle East Corridor (IMEC) project.
2023-10-11T19:32+0530
2023-10-11T19:32+0530
2023-10-15T10:55+0530
world news
india
israel
saudi arabia
european union (eu)
delhi
middle east
china
suez canal
g-20
https://cdn1.img.sputniknews.in/img/07e7/08/09/3485764_0:0:3077:1731_1920x0_80_0_0_f60da6b97fc615e24c4ce9d945d77dbd.jpg
The ambitious India-Europe-Middle East Corridor (IMEC) project, which seeks to connect India to Europe via the Middle East through a network of rail links, roads and shipping lanes, "may get delayed as it looks in jeopardy because of the ongoing conflict", experts feel.New Delhi-based expert, Sushant Sareen, a senior fellow at an Indian think-tank - Observer Research Foundation - told Sputnik India that in the given circumstances the project would get delayed but would never be abandoned as none of the country has taken any strong position against Israel."...even if they do so (in the weeks to come), the project would get delayed by a few more years but would not be abandoned in any case," Sareen stressed.Another expert on the issues related to the region, Qamar Agha, expressed his views on the matter, saying the project, announced during the recently concluded G-20 meeting in Delhi, could be shelved for a long-long time as the war has complicated almost everything related to it.He was of the view it may even be forgotten for a long-long time because of the complexities involved. "It seems unlikely that the project, in the given circumstances, will be taken up soon," Agha, who is highly regarded for his knowledge about the whole region of [the] Middle East, said.Many say arranging the required funds would be difficult, as the war is likely to discourage investment in the region. The project, regarded by many as a counter to China’s Belt and Road Initiative (BRI), is of a very high strategic importance to India as it offers the country a direct link to European markets and boost trade and investment between India and the Middle East.The political instability, caused by the war, will lead to delays in construction, which in turn will impact the overall cost negatively, they believe.Presently, all the trade between India and the European Union is carried out through the Suez Canal.
https://sputniknews.in/20231003/india-supports-russias-plan-to-develop-northern-sea-route-as-suez-canal-unreliable-experts-4550474.html
india
israel
saudi arabia
delhi
middle east
china
suez canal
arabian sea
palestine
Sputnik India
feedback.hindi@sputniknews.com
+74956456601
MIA „Rosiya Segodnya“
2023
Sushil Kumar
https://cdn1.img.sputniknews.in/img/07e7/0a/14/4972259_0:0:613:612_100x100_80_0_0_f89d4c7eaa17d23ebb41934f3e07e508.jpg
Sushil Kumar
https://cdn1.img.sputniknews.in/img/07e7/0a/14/4972259_0:0:613:612_100x100_80_0_0_f89d4c7eaa17d23ebb41934f3e07e508.jpg
News
en_IN
Sputnik India
feedback.hindi@sputniknews.com
+74956456601
MIA „Rosiya Segodnya“
Sputnik India
feedback.hindi@sputniknews.com
+74956456601
MIA „Rosiya Segodnya“
Sushil Kumar
https://cdn1.img.sputniknews.in/img/07e7/0a/14/4972259_0:0:613:612_100x100_80_0_0_f89d4c7eaa17d23ebb41934f3e07e508.jpg
war could disrupt , india europe middle east corridor, uae and saudi arabia, political instability, imec project, rail links, roads and shipping lanes, india trade routs, g20 meeting in delhi, suez canal
war could disrupt , india europe middle east corridor, uae and saudi arabia, political instability, imec project, rail links, roads and shipping lanes, india trade routs, g20 meeting in delhi, suez canal
India-Europe-Middle East Corridor In Jeopardy, Bound to Get Delayed: Experts
19:32 11.10.2023 (Updated: 10:55 15.10.2023) The Israel-Hamas war could disrupt the shipping and trade routes in the region, including the under construction India-Europe-Middle East Corridor (IMEC) project.
The ambitious India-Europe-Middle East Corridor (IMEC) project, which seeks to connect India to Europe via the Middle East through a network of rail links, roads and shipping lanes, "may get delayed as it looks in jeopardy because of the ongoing conflict", experts feel.
New Delhi-based expert, Sushant Sareen, a senior fellow at an Indian think-tank - Observer Research Foundation - told Sputnik India that in the given circumstances the project would get delayed but would never be abandoned as none of the country has taken any strong position against Israel.
"It was expected that the countries on the route (of the project) would take [a] strong stance against Israel, but they are following [a] middle path, and it goes on to show that they don't want to disrupt the IMEC, which will be beneficial to all involved," he said, adding that in case the war gets prolonged, the countries such as the UAE and Saudi Arabia may take anti-Israel stand, which would delay the project further.
"...even if they do so (in the weeks to come), the project would get delayed by a few more years but would not be abandoned in any case," Sareen stressed.
"Since it's doable, viable and profitable (for all involved), it would certainly be taken up in the near future," he underlined.
Another expert on the issues related to the region,
Qamar Agha, expressed his views on the matter, saying the project, announced during the recently concluded
G-20 meeting in Delhi, could be shelved for a long-long time as the war has complicated almost everything related to it.
He was of the view it may even be forgotten for a long-long time because of the complexities involved.
"Saudi Arabia seems to be least interested in the project," he said, adding that also because "the project goes well inside Israel, the country has to heal its relations with Saudi Arabia first".
"It seems unlikely that the project, in the given circumstances, will be taken up soon," Agha, who is highly regarded for his knowledge about the whole region of [the] Middle East, said.
Many say arranging the required funds would be difficult, as the war is likely to discourage investment in the region.
The project, regarded by many as a counter to China’s Belt and Road Initiative (BRI), is of a very high strategic importance to India as it offers the country a direct link to
European markets and boost trade and investment between India and the Middle East.
The political instability, caused by the war, will lead to delays in construction, which in turn will impact the overall cost negatively, they believe.
Presently, all the trade between India and the
European Union is carried out through the Suez Canal.
