With uncertainty gripping the ambitious India-Middle East EU Economic Corridor (IMEC) project due to the deepening of the West Asia crisis, India is examining the possibility of beginning work on the eastern leg of the corridor. This would take container traffic from India to the UAE, which could later be extended once there was relative peace in the Middle East, sources have said.
“India and other partners of the IMEC have a lot riding on the project. It will be a pity if the project, the estimated cost may be about $20 billion, languishes till the Middle East crisis is over. One view is to do as much work as possible on the trade corridor now and leave the rest for later. The India-UAE leg is the first one that may be worked on,” an official tracking the matter told businessline.
The office of the National Security Advisor and the Ministry of External Affairs are examining the feasibility of working on the India-UAE leg to begin with, the official added.
Trade Highway
The…