How does IMEC alliance benefit Indian exporters?
Reduced transportation time and lower logistics costs
The India–Middle East–Europe Economic Corridor (IMEC) was announced at the G20 Summit in New Delhi in September 2023.
It plans to link India by sea to the Gulf (UAE, Saudi Arabia), then by rail across the Middle East, and again by sea to Europe.
Such a corridor is expected to cut transit time (estimates suggest by about 40%) and reduce logistics costs for Indian exporters.
It is meant to expand market access, not limit it, and it does not raise import duties or tariffs.
Hence, Reduced transportation time and lower logistics costs.
Similar Questions
What is India’s rank in the World Economic Forum Global Gender Gap Index 2020?
India, Afghanistan and which other country held their first trilateral meeting on Chabahar port project in October 2018?
As of February 2020, which of the following Indian languages is the third-most-spoken language in the world?
Identify the correct option from given statements:
Assertion (A):
India's hosting of the 141st IOC Session in Mumbai was a significant milestone that led to the inclusion of Kabaddi in the 2028 Los Angeles Olympic Games.
Reason (R):
The IOC General Body approved the inclusion of Cricket during the session, and India also expressed its intention to host the Youth Olympics 2030 and Summer Olympics 2036.
Important Questions from India and World
Italy has launched its first-ever mega food park project in which of the following states in India in April 2021?
Afro-Asian solidarity as a central element of India's foreign policy was initiated by which of the following Prime Ministers?
Which Agency is financing the External Aided Project - Rajasthan Urban Sector Development Program?
In which of the following country India organised a Cultural festival to mark Tagore's 156th birth anniversary?
The fourth edition of BIMSTEC summit 2017 was held in which country?
