Trump backs India-Middle East-Europe Economic Corridor, says need to shift energy infra away from Iran

US President Donald Trump has strongly backed the India-Middle East-Europe Economic Corridor (IMEC), saying recent attacks on commercial shipping in the region have underlined the need to move Middle East energy infrastructure away from Iranian checkpoints.

"Iran's terrorist attacks on commercial shipping in neighbouring countries have shown the need to shift Middle East energy infrastructure away from the Iranian checkpoints," Trump said at a multilateral meeting with the Gulf Cooperation Council on the sidelines of the high-level UN General Assembly session.

"That's why my administration strongly supports the India-Middle East-Europe Economic Corridor and other places... the form of getting oil out, whether it's pipelines or anything else, and together we're on the verge of overcoming challenges that have plagued this region for decades," he said.

The India-Middle East-Europe Economic Corridor (IMEC) is a multinational connectivity and infrastructure initiative unveiled on September 9, 2023, on the sidelines of the G20 Summit in New Delhi.

The project, however, faced a setback soon after its launch following the October 2023 attack by Hamas on Israel and the ensuing war in Gaza.

The corridor brings together India, the US, Saudi Arabia, the UAE, the European Union, France, Germany and Italy. It is aimed at improving connectivity, trade and sustainability across South Asia, the Middle East and Europe.

The proposed corridor has two components: an eastern corridor connecting India with the Arabian Gulf and a northern corridor linking the Gulf with Europe.

Under a memorandum of understanding signed by the participating countries, the project envisages a railway network to provide a reliable and cost-effective cross-border ship-to-rail transit system, supplementing existing maritime and road transport routes.

The participating countries also intend to facilitate the laying of electricity and digital connectivity cables along the railway route, as well as pipes for the export of clean hydrogen.

The project is seen as an effort to create an alternative trade and connectivity route between Asia and Europe, and reducing transit times and improving supply-chain links.

The IMEC initiative can also help position India as a key player in reshaping global supply chains and trade routes.

“By offering an alternative to China’s Belt and Road Initiative, this project underscores New Delhi’s proactive approach to regional economic integration and infrastructure development," Hudson Institute, a US-based think tank, had said in a report.