The G20 summit, held in New Delhi, India on September 9-10, unveiled the India-Middle East-Europe Economic Corridor (IMEC) initiative, aimed to boost economic integration between Asia, the Arabian Gulf, and Europe, with support from India, UAE, Saudi Arabia, EU, France, Italy, Germany, and the US. IMEC will feature sea-rail connectivity, potentially reducing India-Europe cargo transit times by 40% and is seen as a strategic counter to China’s Belt and Road Initiative (BRI).
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