Explanation – The India-Middle East-Europe Economic Corridor (IMEC) aims to create a comprehensive transportation network that facilitates trade and connectivity between India, the Middle East, and Europe. This initiative aims to boost economic development in these regions by improving transportation infrastructure, streamlining customs procedures, and promoting cross-border cooperation. IMEC envisions to develop multimodal transport corridors, including railways, roads, ports, and air cargo routes, to facilitate efficient movement of goods and services. The primary objective is to leverage the economic potential of these regions and foster greater collaboration among businesses, governments, and communities.

Source: Forum IAS