Latest news with #India-MiddleEast-EuropeCorridor
Time of India
02-05-2025
- Business
- Time of India
Robust regional connectivity to boost India Middle East Europe Economic Corridor
Strengthening regional connectivity through robust rail infrastructure is essential to minimizing logistics expenses, boosting trade, and advancing collective prosperity throughout Asia including strengthening ambitious IMEC , according to experts at a recent panel discussion. #Pahalgam Terrorist Attack Pakistan reopens Attari-Wagah border to allow stranded citizens in India to return Key Jammu & Kashmir reservoirs' flushing to begin soon Air India sees Pakistan airspace ban costing it $600 mn over 12 months The panel discussion organised by Chintan Research Foundation (CRF) highlighted the importance of rail connectivity in strengthening Asian economic integration . The event brought together eminent leaders from the Railway Board — including former CEO Jaya Varma Sinha, M. Jamshed (Member Traffic), and R.N. Sunkar (Member Infrastructure) — along with senior representatives from key PSUs -- Vijoy Kumar Singh ( CONCOR ) and Manoj Shrivastav (PRCL), renowned academic Professor C. Raja Mohan, and private sector representative Prasanna Karthik (APSEZ). Together, they offered a wide range of insights into the critical role of railways in driving India's economic growth and strengthening regional integration across Asia. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 3 Reasons to Plug This Into Your Home Today elecTrick - Save upto 80% on Power Bill Learn More Shishir Priyadarshi, President, CRF underlined that robust railway infrastructure is vital for India's growth story and deeper economic integration within Asia. Echoing this, Jamshed pointed out, 'Traffic infrastructure is more important than tariff infrastructure,' re-emphasising the importance of railways for sustainable connectivity. Highlighting the role of connectivity in driving economic growth, Prof Rajamohan emphasised, 'There is a need for greater private sector participation in infrastructure development, especially in the railways, to bring in market-driven efficiency and mobilise additional resources.' Live Events Prof Rajamohan further reemphasized that India's 'Greater Vision' for 2047 needs to be more connected. Drawing from the colonial era, he highlighted that railway building is closely linked to nation-building and cited examples from the United States, China, and the USSR to demonstrate how railways played pivotal roles in regional influence. The discussion also touched upon the importance of the Trans-Asian Railway Network and the role of the India-Middle East-Europe Corridor (IMEC). The necessity of overcoming political barriers was highlighted by Jaya Verma Sinha, who stated, 'The South Asian region is known as the least connected because of artificially created barriers, so we need to defeat political barriers, especially in connecting with Bangladesh.' Sunkar said, 'There is a misunderstanding that railways are not expanding,' and highlighted ongoing improvements such as tunnelling, land processing, and increased cooperation with state governments. Bijoy Kumar Singh and P. R. Parhi emphasized the importance of integrating railways with business ecosystems. Singh stated, 'India needs a proper ecosystem to do business, marketing, and finance,' while Parhi noted that 'under GOI, private companies are extending support to countries like Bangladesh.' He also cited a World Bank study from 2022, predicting that by 2040-45, the number of vehicles on roads will increase to unsustainable levels, stressing the need for soft and road linkages. The discussion also focused on connectivity with West Asia and Southeast Asia. Highlighting IMEC's role, Col. Rajeev Agarwal said, 'IMEC represents a major step in connecting India with the Middle East and Europe. While the virtual trade corridor' deal with the UAE is advancing port readiness, seamless physical connectivity remains a challenge due to the lack of uniform rail gauges and infrastructure standardization.' He further added, 'IMEC is the first India-centric project which has multilateral leadership, unlike China's BRI.' Manoj S. traced historical precedents, stating, 'The way Chandragupta Maurya made the Chittagong to Khorasan route, and in 120 AD, Kanishka shaped the Old Silk Road, shows the importance of connectivity since ancient times.' He also highlighted the technological gaps and mismatches in rail bogies, stressing the need for harmonization and cross-border training for loco pilots. Karthik emphasized, 'IMEC cuts through one of the most volatile regions of the world; to bring down time and cost, it is imperative.' He remarked, 'Since customs and procedures need to be met, that can only be done by government authorization. Infrastructure building is in the private sector; therefore, robust rail connectivity in South Asia and IMEC will need a public-private partnership.' Jamshed concluded, 'Government needs to join hands with the private investors for railway infrastructure development. Myanmar is key to India's Southeast Asia connectivity and the materialization of the Act East Policy in the SEA region. On the other side, for IMEC to succeed, railway lines must be modernized before it takes off.' Panellists highlighted the imperative of institutional support, private sector involvement, and international cooperation in achieving this objective. The CRF Railway Conclave represents a pivotal forum for shaping the discourse on Asia's railway future and charting a course toward equitable and sustainable development.
Mint
02-05-2025
- Business
- Mint
PM Modi inaugurates Vizhinjam seaport, ₹8,867 crore project built by Adani Group in Kerala; here's what he said
Prime Minister Narendra Modi on Friday officially commissioned the Vizhinjam International Seaport in Thiruvananthapuram, Kerala, which was completed at an estimated cost of ₹ 8,867 crore by the Adani Group. 1. Prime Minister Narendra Modi met Congress MP Shashi Tharoor, Kerala BJP president Rajeev Chandrasekhar and other dignitaries present during the inauguration ceremony of Vizhinjam port. PM Modi took a jibe at the INDI alliance and said, ' I want to tell CM, you are a strong pillar of INDI alliance, Shashi Tharoor is also sitting here. Ye event kayi logon ki need haram kar dega. (Today's event is going to disturb the sleep of many).' 2. 'During the G20 summit, we had made agreements with several big nations on the India-Middle East-Europe Corridor. In this route, Kerala is in a very important position. Kerala is going to benefit in a big way from sector plays a key role in bringing maritime sector of our country to a new high,' Modi added. 3. Modi expressed condolences on the demise of Pope Francis. He said,"Few days ago, we all had a very sad time. We lost Pope Francis. On behalf of India, President Droupadi Murmu attended the the land of Kerala, I once again express my condolences." 4. Over the past decade, India's port capacity has doubled, operational efficiency has increased, and turnaround times have been reduced by 30%, the prime minister said during his address. 5. He highlighted that India now ranks among the top three countries globally in terms of the number of seafarers. Modi also stated that the Vizhinjam port project will significantly contribute to Kerala's and the nation's economic stability. 6. "Today is the birth anniversary of Lord Adi Shankaracharya. Three years ago in September, I had the opportunity to visit his birthplace. I am happy that a grand statue of Adi Shankaracharya has been installed in the Vishwanath Dham complex in my parliamentary constituency, Kashi. I have got the opportunity to unveil the divine statue of Adi Shankaracharya in Kedarnath Dham in Uttarakhand. Today, the doors of the Kedarnath temple have opened in Devbhoomi Uttarakhand", Modi said. 7. 'On one hand, there is this big sea with so many opportunities and on the other hand, there is beauty of nature, in between there is this 'Vizhinjam International Deepwater Multipurpose Seaport', which is a symbol of new-age development,' Modi said in his address to the public. Today's event is going to disturb the sleep of many. Situated in Kerala's Thiruvananthapuram district, the Vizhinjam port is poised to redefine India's position in global trade and maritime logistics. Developed by Adani Ports and Special Economic Zone Ltd (APSEZ) under a public-private partnership, the deep-water port marks a major infrastructure milestone. After a successful trial run, it was officially granted its commercial commissioning certificate on December 4 last year. (With inputs from agencies)
Times of Oman
02-05-2025
- Business
- Times of Oman
Inauguration of Vizhinjam Port in Kerala significant for India's maritime sector: PM Modi
Thiruvananthapuram: Indian Prime Minister Narendra Modi on Friday inaugurated the Vizhinjam seaport in Thiruvananthapuram and stating that it will boost trade, commerce and will be particularly beneficial for Kerala's economy. "Before slavery, India had seen prosperity for thousands of years. At one time, India had major cities in the global GDP. At that time, what distinguished us from other countries was our maritime capacity the economic activities of our port cities and Kerala had a big contribution in this", PM Modi said. PM Modi who reached Thiruvananthapuram on Thursday night, took a helicopter to reach the port area this morning and took stock of the facilities before the inauguration of the 'Vizhinjam International Deepwater Multipurpose Seaport', which was completed at an estimated cost of Rs 8,900 crore. In his public address, PM Modi said, "During the G20 summit, we had made agreements with several big nations on the India-Middle East-Europe Corridor. In this route, Kerala is in a very important position. Kerala is going to benefit in a big way from sector plays a key role in bringing maritime sector of our country to a new high..." This ambitious project of the Kerala government has been developed under the public-private partnership by Adani Ports and Special Economic Zone Ltd (APSEZ). The inauguration in Thiruvanathanpuram of the project, built by Adani Ports and Special Economic Zone Ltd (APSEZ), which is India's first deep-water dedicated container transhipment port, was conducted in the presence of Kerala Chief Minister Pinarayi Vijayan, Governor of Kerala, Rajendra Vishwanath Arlekar, Union Ministers, Suresh Prabhu, George Kurien among others. Adani Group Chairperson Gautam Adani felicitated Prime Minister Narendra Modi. PM Modi emphasised that the Vizhinjam International Deepwater Multipurpose Seaport is an example of "new-age development," as it is situated at one end of the deep sea, while on the other hand, it offers numerous opportunities, which is the beauty of nature. "On one hand, there is this big sea with so many opportunities and on the other hand, there is beauty of nature, in between there is this 'Vizhinjam International Deepwater Multipurpose Seaport', which is a symbol of new-age development", PM Modi said in his address to the public. The Prime Minister said the capacity of this transshipment hub will triple in the coming years, enabling the smooth arrival of some of the world's largest cargo ships. He said that that 75 per cent of India's transshipment operations were previously conducted at foreign ports, leading to significant revenue loss for the country. Emphasizing that this situation is now set to change, PM Modi asserted that India's money will now serve India and the funds that once flowed outside the country will now generate new economic opportunities for Kerala and Vizhinjam's people. Noting that Kerala played a significant role in this maritime strength and economic growth, PM Modi highlighted Kerala's historical role in maritime trade, emphasizing that through the Arabian Sea, India maintained trade links with multiple nations. He noted that ships from Kerala carried goods to various countries, making it a vital hub for global commerce. "Today, the Government of India is committed to further strengthening this channel of economic power", he added and asserted, "India's coastal states and port cities will become key centers for the growth of a developed India". "The port economy reaches its full potential when infrastructure and ease of doing business are promoted together", emphasised the Prime Minister, stating that over the past 10 years, this has been the blueprint of the Government of India's port and waterways policy. He highlighted that the government has accelerated efforts for industrial activities and holistic development of states. He further remarked that the Government of India, in collaboration with state governments, has upgraded port infrastructure under the Sagarmala Project and strengthened port connectivity. He noted that under PM Gati Shakti, waterways, railways, highways, and airways are being rapidly integrated for seamless connectivity. The Prime Minister stated that the Government of India has also reformed regulations concerning Indian seafarers, yielding significant results. He pointed out that in 2014, the number of Indian seafarers was below 1.25 lakh. Today, this figure has surged beyond 3.25 lakh. He emphasized that India now ranks among the top three countries globally in terms of seafarer numbers. Highlighting that a decade ago, ships faced long waiting times at ports, significantly delaying unloading operations, PM Modi noted that this slowdown affected businesses, industries, and the overall economy. He stressed that the situation has now transformed and over the past 10 years, India's major ports have reduced ship turn-around time by 30 per cent, improving operational efficiency. He remarked that due to enhanced port efficiency, India is now handling greater cargo volumes in shorter durations, strengthening the nation's logistics and trade capabilities. "India's maritime success is a result of a decade-long vision and effort", PM Modi said underlining that over the past 10 years, India has doubled the capacity of its ports and expanded its National Waterways eightfold. He noted that today, two Indian ports are among the global top 30 ports, while India's ranking on the Logistics Performance Index has also improved. Additionally, he pointed out that India is now among the top 20 countries in global shipbuilding. Prime Minister highlighted that India is advancing towards the establishment of a shipbuilding and repair cluster in Kochi, which once completed will create numerous new employment opportunities, providing Kerala's local talent and youth with a platform for growth. The Prime Minister further stated that India is now setting ambitious targets to strengthen its shipbuilding capabilities. He noted that this year's Union Budget introduced a new policy to promote the construction of large ships in India, which will significantly boost the manufacturing sector. He emphasized that this initiative will have direct benefits for MSMEs, generating a large number of employment and entrepreneurship opportunities across the country. "True development is achieved when infrastructure is built, trade expands, and basic needs of the common people are met", said the Prime Minister, remarking that the people of Kerala have witnessed rapid progress over the past 10 years, not just in port infrastructure, but also in highways, railways, and airports. He highlighted that projects like the Kollam Bypass and Alappuzha Bypass, which had been stalled for years, were advanced by the Government of India. He also noted that Kerala has been provided with modern Vande Bharat trains, further strengthening its transport network and connectivity. PM Modi envisioned Kerala as a major centre for global maritime trade, leading to the creation of thousands of new jobs. He reaffirmed the commitment of the Government of India, working alongside the state government, to advance this goal. PM Modi expressed confidence in the capabilities of Kerala's people and said , "India's maritime sector will reach new heights". The country's first dedicated container transshipment port built at an estimated Rs 8,800 crore has been identified as a key priority project which will contribute in strengthening India's position in global trade, enhance logistics efficiency, and reduce reliance on foreign ports for cargo transshipment. Its natural deep draft of nearly 20 meters and location near one of the world's busiest sea trade routes further strengthens India's position in global trade.
Mint
02-05-2025
- Business
- Mint
PM Modi inaugurates Vizhinjam seaport, ₹8,867 crore project built by Adani Group in Kerala; here's what he said
Prime Minister Narendra Modi on Friday officially commissioned the Vizhinjam International Seaport, here, which was completed at an estimated cost of ₹ 8,867 crore built by Adani Group. 1. At the inauguration event of Vizhinjam port, PM Modi took a jibe at the INDI alliance and said, ' I want to tell CM, you are a strong pillar of INDI alliance, Shashi Tharoor is also sitting here. Ye event kayi logon ki need haram kar dega. (Today's event is going to disturb the sleep of many).' 2. 'During the G20 summit, we had made agreements with several big nations on the India-Middle East-Europe Corridor. In this route, Kerala is in a very important position. Kerala is going to benefit in a big way from sector plays a key role in bringing maritime sector of our country to a new high…,' PM Modi added. 3. PM Modi expressed condolences on the demise of Pope Francis. He said," Few days ago, we all had a very sad time. We lost Pope Francis. On behalf of India, President Droupadi Murmu attended the the land of Kerala, I once again express my condolences…" 4. Over the past decade, India's port capacity has doubled, operational efficiency has increased, and turnaround times have been reduced by 30%, Prime Minister Narendra Modi said during his address in Kerala. 5. He highlighted that India now ranks among the top three countries globally in terms of the number of seafarers. PM Modi also stated that the Vizhinjam port project will significantly contribute to Kerala's and the nation's economic stability. 6. "Today is the birth anniversary of Lord Adi Shankaracharya. Three years ago in September, I had the opportunity to visit his birthplace. I am happy that a grand statue of Adi Shankaracharya has been installed in the Vishwanath Dham complex in my parliamentary constituency Kashi. I have got the opportunity to unveil the divine statue of Adi Shankaracharya in Kedarnath Dham in Uttarakhand. Today, the doors of the Kedarnath temple have opened in Devbhoomi Uttarakhand", PM Modi said. 7. 'On one hand, there is this big sea with so many opportunities and on the other hand, there is beauty of nature, in between there is this 'Vizhinjam International Deepwater Multipurpose Seaport', which is a symbol of new-age development,' PM Modi said in his address to the public. Situated in Kerala's Thiruvananthapuram district, the Vizhinjam port is poised to redefine India's position in global trade and maritime logistics. Developed by Adani Ports and Special Economic Zone Ltd (APSEZ) under a public-private partnership, the deep-water port marks a major infrastructure milestone. After a successful trial run, it was officially granted its commercial commissioning certificate on December 4 last year. (With inputs from agencies) First Published: 2 May 2025, 12:45 PM IST
Time of India
28-04-2025
- Business
- Time of India
IMEC not just a trade route, but a bridge between civilizations: Ram Nath Kovind
Former President Ram Nath Kovind has called the 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.
