Synopsis The ongoing Israel-Hamas conflict could potentially impact the India Middle East Europe Economic Corridor (IMEEC) project, according to the Global Trade Research Initiative (GTRI). While the immediate consequences of the conflict are limited to Israel and Gaza, the ripple effects throughout the Middle East could have significant implications. AP The ongoing Israel-Hamas conflict may lead to delays and complications in the India Middle East Europe Economic Corridor project, according to think tank Global Trade Research Initiative ( GTRI ). It said while the conflict’s immediate consequences are confined to Israel and Gaza, its ripple effects throughout the Middle East cannot be underestimated. GTRI said the conflict could derail the prospect of a historic peace deal between Israel and Saudi Arabia, a crucial linchpin in the India Middle East Europe Economic Corridor ( IMEEC ) framework. Although Saudi Arabia and Israel have historically maintained no formal diplomatic ties, recent years have witnessed signs of a thaw, with negotiations underway for normalisation, GTRI Co-Founder Ajay Srivastava said, adding that the war may derail any progress made. “The ongoing Israel-Hamas conflict may disrupt the project’s timelines and outcomes, marking a pivotal juncture in the development of this ambitious economic corridor. While the war’s direct impact remains regional, the geopolitical consequences reverberate far beyond, with potential consequences for the proposed corridor,” he added. IMEEC, a proposed economic corridor, aims to boost economic development by fostering connectivity and economic integration between Asia, the Persian Gulf, and Europe. The envisioned corridor would span from India to Europe, passing through the UAE, Saudi Arabia, Jordan, Israel, and Greece. The Memorandum of Understanding (MoU) for this was signed during the G20 summit in New Delhi last month, with participation from governments such as India, the US, the UAE, Saudi Arabia, France, Germany, Italy, and the European Union. The project’s key goal is to enhance transportation and communication links between Europe and Asia, and it is often viewed as the response to China’s Belt and Road Initiative. Srivastava added that the disruption in the Middle East, a vital link in this corridor, may lead to delays and complications in the project’s execution. Print Edition Saturday, 14 Oct, 2023 Experience Your Economic Times Newspaper, The Digital Way! Read Complete Print Edition » Front Page Pure Politics Companies Around the World Learn more about our print edition More Tech Winter Diet: Top 3 Shed Weight & Reduce Intake India’s top three software exporters — Tata Consultancy Services (TCS), Infosys and HCLTech — are likely to see a fall of nearly 50,000 in headcount this financial year, as a bleak environment for technology services globally looks set to worsen amid geopolitical conflicts in West Asia and Europe, according to multiple industry experts. Jet-Set Chart Flight Plan for Ahmedabad Over the next three days, more than 150 private jet flights—four times the usual traffic—will ferry some of India’s wealthiest people to and from Ahmedabad, as per data from the city airport. India Inc, Eateries, Pubs Ready Pitch for Blockbuster The stage is set for Saturday’s blockbuster India-Pakistan World Cup match – not just in the Ahmedabad stadium but in living rooms, pubs, restaurants, multiplexes and even offices across the country. And corporate India has started the cheer. Read More News on gtri india india middle east europe economic corridor imeec economic corridor (Catch all the Business News , Breaking News Events and Latest News Updates on The Economic Times .) Download The Economic Times News App to get Daily Market Updates & Live Business News. … more less ETPrime stories of the day E-commerce Online festive offers dip mid-sale. Why are discounts drying out early? 5 mins read People Nassim Nicholas Taleb, the man who foresaw the 2008 crash, has another prophecy on the cards 11 mins read Investing What makes TVS a clear outperformer? It’s not a Hero Splendor or a Honda Activa-like product. 7 mins read Subscribe to ETPrime

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