Ashi SharmaAIR 12 · CSE 2024 · 237 wordsTheir whole copy
Opening · a figure
Recently on the sidelines of G20 summit the G20 launched the India Middle East - Europe corridor (IMEEEC) as a multimodal transport & energy project.
Body · points
Significance
Geopolitical
provide a counter to China's BRI and challenge its hegemony.
provides an alternate route to choke point of Suez canal
helps avoid the problematic and unstable red sea route
④ improve bilateral ties with west asian countries like S.Arabia, UAE etc
⑤ Embolden India EU ties.
Economy
① decrease the trade time with EU by atleast 30%.
② major push for India's exports to EU
③ ensure safe access to energy imports from west asia (nearly 80% of crude oil is imported by India)
④ boost regional development
⑤ create jobs in India
⑥ help attract investments
⑦ boost India's GDP.
Transport & Energy Projects
① International north south transit corridor.
② Construction of Chabahar port (Iran)
③ Kaladan multimodal transit project (Myanmar)
④ development of Trincomamallee oil field (Sri lanka)
⑤ Agartala - Akhora rail link project (Bangladesh).
Therefore it can be seen India's foreign policy is actively pursuing transport & energy projects
But at the same time we are also focusing on -
① Humanitarian aid & assistance (eg Operation Dost Turkey)
② Sustainable development (eg Asia Africa growth corridor).
③ global governance reforms (eg UNSC permanent seat).
Close · a summary
Nevertheless transport and energy projects have taken prominence to ensure economic growth & resilience and energy security