India, UAE sign pact to speed up IMEC project

Abu Dhabi: Coinciding with Prime Minister Narendra Modi’s visit to the Gulf region, India and the UAE have inked a pact for quickly operationalising the ambitious India-Middle East-Europe Economic Corridor (IMEC) despite the repeated Houthi strikes on vessels in the Red Sea prompted by the Israel-Hamas war.

The issue of IMEC, announced during the G-20 Summit in New Delhi last September, came up for discussion during Modi’s talks with UAE President Sheikh Mohammed bin Zayed Al Nahyan on Tuesday, Foreign Secretary Vinay Kwatra said on Wednesday.