Gujarat's strategic hub status boosted by India-Middle East-Europe corridor

State officials have expressed optimism about the proposed India-Middle East-Europe Economic Corridor, highlighting its potential to boost Gujarat's status as an investment hub. According to Rahul Gupta, Chairman and Managing Director of Gujarat Industrial Investment Corporation, Gujarat's extensive 1,600-km coastline and numerous ports make it a key gateway to the Middle East, Africa, Eastern Europe, and Central Asia. The ambitious corridor project, recently announced during the G20 Summit, is set to enhance Gujarat's strategic position further. The corridor will comprise two segments: the East Corridor linking India to West Asia and the Middle East, and the Northern Corridor connecting West Asia and the Middle East to Europe. It will feature a rail line, offering a reliable and cost-effective cross-border ship-to-rail transit network, augmenting existing transport routes and facilitating the transhipment of goods and services from South East Asia to West Asia and Middle East Europe. Prime Minister Narendra Modi lauded the corridor, envisioning it as the foundation of global trade for centuries. To support the state's growth, the Gujarat government has announced the 10th edition of the Vibrant Gujarat Summit in January 2024, a biennial event aimed at promoting economic activities, technological advancements, and new investments. Despite challenges such as the Covid-19 pandemic, state departments have persistently worked towards economic growth and technological advancements, ensuring Gujarat's continuous progress.