How the India-Middle-East-Europe Corridor rivals BRI

11 Sep 2023 CW Team

India's Railway Minister, Ashwini Vaishnaw, shared insights on the proposed India-Middle-East-Europe Corridor in an exclusive interview with NDTV. Unlike China's Belt and Road Initiative (BRI), which has raised concerns about debt traps, Vaishnaw emphasised that this G20 project would generate revenue and prove financially viable. He stressed that the corridor aligns with Prime Minister Narendra Modi's vision of inclusivity, "sabka saath sabka vikas."

The India-Middle-East-Europe Corridor, often regarded as a response to the BRI, has garnered interest as a potential new Spice Route with US backing. However, some European nations remain sceptical. Italy, the only G7 nation to sign up initially, is reportedly reconsidering its participation due to concerns about debt-related challenges faced by host countries.

Vaishnaw pointed out that the G20 project offers more flexibility, allowing each participating country to tailor its involvement according to its specific needs. He expressed confidence in the corridor's financial viability, with multiple multilateral institutions showing interest in funding it. Vaishnaw suggested that the project's transportation component would generate substantial revenue, ensuring that host countries avoid falling into a debt trap.

This ambitious project, announced during the G20 summit, aims to connect railways, ports, electricity networks, data infrastructure, and hydrogen pipelines. By linking railway and port facilities across the Middle East, including countries like the United Arab Emirates, Saudi Arabia, Jordan, and Israel, the corridor could potentially expedite trade between India and Europe by up to 40 per cent while bypassing the Suez Canal.

Infrastructure Energy

22 Oct 2025

KEC Secures Rs 10, 380 Mn Substation Order in Saudi Arabia

KEC International Ltd., a global infrastructure EPC major, and an RPG Group company, has secured a new order worth Rs 10,380 million for the Design, Supply and Installation of a 380 kV GIS Substation in Saudi Arabia.Vimal Kejriwal, MD & CEO, KEC International Ltd., commented, “We are delighted with the successive order wins in our T&D business. In a landmark achievement, we have secured our largest ever substation order. This prestigious order in the Middle East has widened our portfolio and strengthened our presence in the region. With this strategic win, our year-to-date or..

Central Bank of India executes first fully digital SCF deal on PSB Xchange

In a major advancement for India’s banking sector, Central Bank of India (CBI) has successfully completed the country’s first fully digital supply chain finance (SCF) transaction on PSB Xchange—a unified multi-lender platform launched by PSB Alliance. PSB Xchange is designed to connect public and private sector banks, NBFCs, and fintechs with corporates and their channel partners to facilitate supply chain finance and small business loans. The transaction marks the first time a fintech-originated corporate lead has been seamlessly processed through the PSB Xchange ecosystem. The lead fl..

Atlanta Electricals secures Rs 1,835 Mn transformer order from BNC Power

Atlanta Electricals Limited (“Atlanta”) has secured an order worth Rs 1,835 million from BNC Power Projects Ltd for the supply of extra high voltage (EHV) transformers and a bus reactor for its Pugal site. The contract includes a mix of 315 MVA, 400 KV and 100 MVA, 132 KV transformers along with a 400 KV bus reactor. The project scope encompasses design, manufacturing, testing, and supply to the project site. Deliveries will be sequenced following engineering and drawing approvals, offering multi-quarter execution visibility and ensuring a steady production run-rate. The order will be ex..