IMEC not just a trade route, but a bridge between civilizations: Ram Nath Kovind
India-Middle East-Europe Economic Corridor
as a bridge between
civilisations
. He was speaking at the SCM Middle East Conclave & Awards 2025 which concluded in Dubai.
'The India-Middle East-Europe Economic Corridor is more than a
trade route
—it is a bridge between civilisations, a promise of
mutual prosperity
, and a step toward shared futures,' Kovind said.
'As the world becomes increasingly interconnected, partnerships like these not only foster economic growth but also unite us in purpose and progress. India, once seen as a developing nation, now stands tall as a global growth engine—leading in technology, diplomacy, and innovation. Let us shape our destinies together, driven by the spirit of Vasudhaiva Kutumbakam—the world is one family,' he added.
Abdullah Ahmed Al Saleh, Undersecretary of the Ministry of Economy,
UAE
, highlighted the UAE's commitment to
technology-driven trade
ecosystems, stating: 'The UAE stands at the nexus of a
global economic transformation
, where technology, innovation, and strategic partnerships are redefining the future of trade. Our non-oil foreign trade of $815 billion in 2024 reflects not just
economic resilience
, but our commitment to tech-enabled, inclusive growth.
'Through the Trade Tech Accelerator, CEPA, and the India-Middle East-Europe Corridor, we are building faster, greener, and more agile supply chains. Our vision is powered by AI, blockchain, and automation to enhance transparency, efficiency, and sustainability across trade routes,' he added.
IMEC seen as strategic alternative
Meenakshi Lekhi, Former Minister of State for External Affairs, Government of India, remarked, 'There are two forces shaping our world today, those working for peace and prosperity, and those driven by conflict and disruption. The IMEC corridor is a testament to the former.'
'It isn't a challenge to existing routes like the Suez Canal, but an essential alternative, like a fire escape that ensures continuity when conventional paths falter. From India to the UAE, Saudi Arabia, and beyond, this multimodal network integrates land, sea, and rail, offering faster, more cost-efficient, and secure connectivity. The corridor exemplifies strategic cooperation and resilience, highlighting that economic prosperity is inseparable from regional security.'
The SCM Awards recognised organisations and individuals for contributions to innovation and leadership in
supply chain management
. Kamal Narayan Omer and Amit Shankhdhar, co-founders and directors of Logistics Shakti, emphasised the conclave's role in promoting collaboration and resilience within the global trade ecosystem.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
26 minutes ago
- Hindustan Times
‘Friends do not impose sanctions': Russia's 5 big remarks amid US tariff row
'Friends do not impose sanctions,' Russia's Ambassador to India Roman Babushkin said during a rare press conference in New Delhi on Wednesday, amid the threat of 50% US sanctions on India. Roman Babushkin, charge d'affaires at the Russian embassy in India, listens to a question during a press conference in New Delhi, on August 20, 2025.(REUTERS) 'The US has weaponised the economy. Friends do not impose sanctions. Russia will never impose sanctions,' Babushkin said. 'Russia understands the importance of India's relations with the West. We are non-West, not anti-West.' 'India and Russia have always found ways to cooperate in difficult times.' Here's a look at what he said during the press conference: On India-Russia Trade Ties Russia is taking steps to address trade imbalance with India by addressing trade barriers. We need to increase Indian exports to Russia. The key export items are machinery, pharma, tea and rice. Russia and India are on track to achieve a target of trade worth $100 billion by 2030. Russia remains one of biggest suppliers of energy and fertilisers to India. 'If Indian goods are facing barriers in other countries, Russian markets will welcome them.' On India-Russia Crude Oil Trade 'We don't expect that to happen,' Babushkin said, when asked whether there would be a pause on India's purchase of Russian crude amid a threat of US sanctions. 'Russia has a special mechanism to continue crude oil supplies to India. We are committed to sit with India to address these problems and remove them.' According to Russia's trade official Evgeny Griva, there has been no disruption in crude supply to Nayara's refinery in Gujarat due to the EU sanctions, for it's a subsidiary of Rosneft OAO. 'We have a mechanism to address shipping and insurance related issues,' Griva said. Russia currently provides 40% of India's oil needs, at 5% discount per barrel. On India-Russia Defence Ties 'Russia is the partner of choice (for India). We have jointly developed BrahMos cruise missile (and) are working on other sophisticated equipment, including jet engines,' Babushkin said. 'Operation Sindoor was a very successful battle test of Russian weapons, including the S-400. When India creates an air defence system, Russian equipment will be part of it.' Separately, Moscow and New Delhi are also in advanced talks for developing small and modular nuclear reactors, the Russian Ambassador said. On US Sanctions The US pressure on India to curb New Delhi's oil trade with Moscow, by way of a 50% tariff on imports, is 'unjustified and unilateral', Babushkin said. 'The US actions are decreasing confidence in the dollar. The US has weaponised the economy. Friends do not impose sanctions, Russia will never impose sanctions.' At the same time, the Russian Ambassador welcomed the 'very successful' state visit of China's Foreign Minister Wang Yi to New Delhi. 'The 'Russia-India-China' is an important mechanism. It will be resumed sooner rather than later.'
Hindustan Times
26 minutes ago
- Hindustan Times
‘It is not Radhakrishnan Vs Reddy': INDIA bloc's candidate Sudershan Reddy on Vice President election
INDIA bloc's Vice Presidential candidate B Sudershan Reddy on Wednesday said that he is happy about his nomination and does not look at the polls as 'Radhakrishnan versus Reddy'. Addressing Congress chief Mallikarjun Kharge's "ideological fight" remarks, Reddy said that the INDIA bloc and the NDA represent two different ideologies.(Hindustan Times File Photo) Sudershan Reddy told ANI, "I am happy about my nomination. If it was an unpleasant one, why would I undertake this journey and proceed further?" Further, he said that the Vice Presidential elections are not a 'Radhakrishnan versus Reddy' contest and there is scope for party whips in the polls. "It is not Radhakrishnan versus Reddy. I don't think even Radhakrishnan treats it as 'Reddy versus Radhakrishnan'. At present, there are two candidates. We do not know there may be a third candidate tomorrow. Since it is not a general election, in that sense, the Vice President of India is to be elected by the members of the parliament. Therefore, there is no question of any whip by political parties asking that you vote for this man, or you don't vote for that man. It is the wisdom and their individual assessment about the relative merits and demerits of the candidates," he said. Addressing Congress chief Mallikarjun Kharge's "ideological fight" remarks, he said that the INDIA bloc and the NDA represent two different ideologies. He said, "What's wrong with this? If not NDA, the dominant political party in India represents a particular ideology. There is nothing new. It is not hidden. Kharge believes in an entirely different ideology, therefore he made that statement. What is wrong with that statement?" Earlier on Tuesday, Mallikarjun Kharge announced Reddy as the INDIA bloc's candidate for the VP elections. Kharge, in an X post, said, 'This Vice Presidential contest is an ideological battle. All Opposition parties have nominated Shri B. Sudershan Reddy garu as their joint candidate for the position of the Vice President of India.' Rahul Gandhi also said that the Opposition is united in this "ideological battle". "I warmly congratulate B Sudershan Reddy Garu on being nominated as the joint opposition candidate for the Vice President of India. A distinguished jurist and champion of justice, he represents the spirit of our Constitution - safeguarding people's rights, equality and our Democracy. We stand united in this ideological battle and wish him all the very best," Gandhi posted on X. Meanwhile, Kharge said Reddy would file his nomination on August 21. Justice B Sudershan Reddy, who served as Chief Justice of the Guwahati High Court before being elevated to the Supreme Court in 2007, retired in July 2011. He will contest against the NDA nominee CP Radhakrishnan. The Vice-Presidential election is scheduled for September 9, with counting on the same day.
Hindustan Times
26 minutes ago
- Hindustan Times
‘India-China-Russia important': Russian diplomat hails Wang Yi's India visit
Roman Babushkin, deputy chief of mission of Russian embassy in India, welcomed Chinese foreign minister Wang Yi's visit to India. He said the 'Russia-India-China' is an 'important mechanism' and that Russia hopes that it will be resumed 'sooner rather than later'. Roman Babushkin, charge d'affaires at the Russian embassy in India, gestures during a press conference in New Delhi, on August 20, 2025. (REUTERS) He called Wang Yi's visit to India 'very successful'. Wang Yi was on a two-day visit to India from August 18-19 and met Prime Minister Narendra Modi, national security advisor Ajit Doval, and external affairs minister S Jaishankar, among other dignitaries. During his meeting with PM Modi, Yi handed an invitation from President Xi for the SCO Summit being held in Tianjin. Also read: India's balancing act: PM Modi lauds 'friend' Putin, boosts China ties amid Trump tariff tensions US tariffs 'unjustified, unilateral' Babushkin also addressed the United States' punishing 50% tariffs on India, half of which are a penalty for buying oil from Russia. Trump imposed the tariffs on India to pressure Russian President Putin into stopping the war in Ukraine. Also read: Russia slams Trump tariffs, backs India over crude oil purchase Babushkin, while addressing the media, dismissed the US pressure on India over its procurement of Russian crude oil as 'unjustified and unilateral' and stressed that Moscow and New Delhi would continue energy cooperation 'notwithstanding external pressure'. He also said that India and Russia have always found ways to cooperate in difficult times. Russia has "special mechanism" to continue crude oil supplies to India, he said. Also read: Putin to visit India, meet PM Modi by end of year: Russian embassy 'India matters a lot to Russia' When asked about India stopping to purchase oil from Russia due to US tariffs, Babushkin said that Russia 'does not expect that to happen'. 'We know about the challenging circumstances for India. This is the true strategic partnership we are enjoying. Whatever happens, even during challenges, we are committed to removing any problems,' he said. 'The recent phone call by President Putin to PM Modi, explaining and sharing the information about recent developments in Ukraine, means India matters a lot to Russia,' he added.
