New Delhi: The India-Middle East-Europe Economic Corridor ( IMEC) respects the sovereignty and territorial integrity of the members rather than trying to foist one idea or trying to create an economic union, commerce and industry minister Piyush Goyal said Wednesday.
At the IMEC Conclave 2025, he said: “IMEC is not trying to dominate, which the Belt and Road Initiative is now being recognized as becoming a political tool to try and dominate certain regions and their economic future”.
He said IMEC is “not adversarial” or where “money is not the only driver” but is focussed largely on promoting friendship and inclusive and sustainable growth among the members.
“Financial viability will be an important element…we don't want to create a huge debt burden on all the countries along the region, but the larger objective is to promote amity among nations,” Goyal said.
The IMEC envisages a vast road, railroad and shipping networks among Saudi Arabia, India, the US, and Europe to ensure integration among Asia, Middle East, and West.
Goyal said that besides infrastructure, interoperable norms, alignment on process, procedures and regulations can be looked at in the corridor project. He said India is in a dialogue for a Virtual Trade Corridor and suggested if that can be extended through the IMEC.
At the IMEC Conclave 2025, he said: “IMEC is not trying to dominate, which the Belt and Road Initiative is now being recognized as becoming a political tool to try and dominate certain regions and their economic future”.
He said IMEC is “not adversarial” or where “money is not the only driver” but is focussed largely on promoting friendship and inclusive and sustainable growth among the members.
“Financial viability will be an important element…we don't want to create a huge debt burden on all the countries along the region, but the larger objective is to promote amity among nations,” Goyal said.
The IMEC envisages a vast road, railroad and shipping networks among Saudi Arabia, India, the US, and Europe to ensure integration among Asia, Middle East, and West.
Goyal said that besides infrastructure, interoperable norms, alignment on process, procedures and regulations can be looked at in the corridor project. He said India is in a dialogue for a Virtual Trade Corridor and suggested if that can be extended through the IMEC.
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