How Far-Fetched Is The India-Middle East-Europe Economic Corridor?

The India -Middle East-European Economic Corridor, or IMEC , was signed at the G20 meeting in Delhi .

It is backed by the U.S. , which is a signatory, along with India , Saudi Arabia , the United Arab Emirates , the European Union , Italy , France , and Germany .

The actual gains from IMEC may fall short of what is expected, but they are likely to be substantial.

In 2003 , then-Prime Minister Atal Behari Vajpayee had mooted open borders and, eventually, a common market.

Currently, much of their trade is routed via Dubai , but this is hugely expensive.

In 2019 , Pakistan halted trade with India in response to its actions in Jammu & Kashmir .