IMEC: Boosting Trade with Economic Corridor

06 Oct 2023 CW Team

Minister Goyal highlighted how IMEC aims to reduce transaction costs and stimulate international trade by enhancing connectivity and economic cooperation across the regions it encompasses. The initiative holds the promise of opening up new trade routes, boosting economic growth, and fostering closer ties among participating nations.

Goyal, who was in the UAE for the 11th Meeting of India-UAE High-Level Task Force on Investments, also emphasised the vast potential that India offers to investors, particularly in sectors such as infrastructure, education, and healthcare. India's rapidly expanding economy and growing consumer base make it an attractive destination for foreign investments, and the government is actively working to create a conducive environment for businesses to thrive.

The Confederation of Indian Industry (CII) President R Dinesh, who spoke at the same event, highlighted that India is emerging as a major global manufacturing hub. He encouraged UAE investors to explore opportunities in India's dynamic business landscape, which includes not only manufacturing but also technology, innovation, and services.

The discussions at the UAE India Business Roundtable reflect the growing interest and cooperation between India and its international partners in fostering economic growth and development through strategic initiatives like the India-Middle East-Europe Economic Corridor.

Commerce and Industry Minister Piyush Goyal, during the UAE India Business Roundtable meeting, discussed the potential benefits of the recently proposed India-Middle East-Europe Economic Corridor (IMEC). This corridor, which was jointly announced by leaders from the US, India, Saudi Arabia, the United Arab Emirates, and several European countries at the G20 summit in New Delhi last month, has garnered significant attention as an alternative to China's Belt and Road Initiative (BRI).Minister Goyal highlighted how IMEC aims to reduce transaction costs and stimulate international trade by enhancing connectivity and economic cooperation across the regions it encompasses. The initiative holds the promise of opening up new trade routes, boosting economic growth, and fostering closer ties among participating nations.Goyal, who was in the UAE for the 11th Meeting of India-UAE High-Level Task Force on Investments, also emphasised the vast potential that India offers to investors, particularly in sectors such as infrastructure, education, and healthcare. India's rapidly expanding economy and growing consumer base make it an attractive destination for foreign investments, and the government is actively working to create a conducive environment for businesses to thrive.The Confederation of Indian Industry (CII) President R Dinesh, who spoke at the same event, highlighted that India is emerging as a major global manufacturing hub. He encouraged UAE investors to explore opportunities in India's dynamic business landscape, which includes not only manufacturing but also technology, innovation, and services.The discussions at the UAE India Business Roundtable reflect the growing interest and cooperation between India and its international partners in fostering economic growth and development through strategic initiatives like the India-Middle East-Europe Economic Corridor.

Infrastructure Transport

17 Oct 2025

Sonowal Unveils Eight Projects at NMPA’s Golden Jubilee

Union Minister for Ports, Shipping and Waterways, Shri Sarbananda Sonowal, inaugurated the Curtain Raiser Ceremony of the Golden Jubilee Celebrations of the New Mangalore Port Authority (NMPA) at Bharat Mandapam. To commemorate the milestone, he unveiled eight major maritime infrastructure projects designed to strengthen India’s port network, enhance logistics performance, and promote sustainability. These include a modern cruise terminal, new covered storage facilities, a 150-bed multi-speciality hospital, expanded truck terminals, and improved port access infrastructure aimed at enhancing..

Infrastructure Energy

17 Oct 2025

India To Boost US LPG Imports, Cut Middle East Reliance

India is planning to reduce imports of liquefied petroleum gas (LPG) from the Middle East as state-owned refiners prepare to ramp up purchases from the United States, according to sources familiar with the matter. The move aligns with New Delhi’s efforts to expand energy cooperation and secure a broader trade deal with Washington. State refiners have already notified their traditional LPG suppliers in Saudi Arabia, the United Arab Emirates, Kuwait and Qatar of the potential reduction in imports. Although the exact size of the supply cut was not disclosed, earlier reports suggested that Indi..

Infrastructure Energy

17 Oct 2025

UK Sanctions Nayara Energy in Crackdown on Russian Oil

The United Kingdom has announced fresh sanctions on 90 entities, including Indian refiner Nayara Energy Limited, in its latest bid to curb Russian oil revenues and weaken President Vladimir Putin’s war funding. The sanctions, unveiled jointly by the Foreign, Commonwealth and Development Office (FCDO) and the UK Treasury, aim to disrupt networks supporting Moscow’s crude exports amid the ongoing war in Ukraine. According to the FCDO, the new restrictions are intended to “strike at the heart of Putin’s war funding” by targeting firms and assets that enable Russia’s energy trade. “..