India-led IMEC challenges China's BRI

18 Sep 2023 CW Team

On the sidelines of the G20 Summit in New Delhi, India, a Memorandum of Understanding (MoU) was signed by India, the US, UAE, Saudi Arabia, France, Germany, Italy, and the European Union to establish the India-Middle East-Europe Economic Corridor (IMEC). This initiative is viewed as an alternative to China's Belt and Road Initiative (BRI). Amitabh Kant, G20 Sherpa, expressed that IMEC could have profound global economic implications, deepening physical connectivity, unlocking commercial opportunities, setting new infrastructure financing standards, and reshaping global trade routes. He highlighted that the eight IMEC signatories represent half of the global economy and 40% of the world's population. IMEC aims to connect commercial hubs, promote clean energy development and export, expand energy grids and telecommunications, advance clean energy technologies, and improve Internet access. The project is envisioned as a green and digital bridge fostering economic cohesion, job creation, and reduced greenhouse gas emissions.

Russian President Vladimir Putin welcomed the IMEC initiative, stating it would benefit Russia and enhance logistics, while also affirming it wouldn't harm existing projects. He noted that IMEC aligns with Russia's North–South corridor, offering an alternative route to the Mediterranean via the Black Sea. Putin praised PM Modi's "Make in India" program and highlighted the importance of domestically made products.

Keywords:

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..

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..

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. “..