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The Print
14-06-2025
- Business
- The Print
IMEEC to have profound impact on world connectivity, says Jaishankar
Highlighting the need for land, sea, and air connectivity 'in as many options and as many variants as possible,' Jaishankar told a panel discussion at the inaugural Raisina Mediterranean 2025 here, 'The connectivity initiatives, I think, have become a very important part of diplomacy today.' Even when the IMEEC is not in place as yet, Europe has a 'fairly ready and efficient access' to India's western coast, despite the threats by Houthis to shipping, he said. 'We are making very major investments in railways, and then trying to connect eastern India all the way to Vietnam.' Reminding the audience how the Suez Canal took ages to make, he said, 'But once it was done, you see what a profound impact it's had on the world. So actually, if we can pull that (IMEEC) off, you will get from Europe a route all the way to the Pacific, which will be significantly land based, but partly sea based.' 'And in some ways, it would be a counter to the reliance on the Arctic, whenever the Arctic opens up. The connectivity game is a long game,' he said. The India-Middle East Europe Economic Corridor (IMEEC) will comprise two separate corridors, the east corridor connecting India to the Gulf and the northern corridor connecting the Gulf to Europe. Marseilles (France), Jun 13 (PTI) Terming connectivity as an important part of diplomacy, External Affairs Minister S Jaishankar on Friday said the IMEEC once completed will offer a significant land- and sea-based connectivity to Europe all the way up to the Pacific. On the sidelines of the G20 Leaders' Summit in New Delhi in 2023, India, European Union, France, Germany, Italy, Saudi Arabia, UAE and the US announced an MoU committing to work together to develop the IMEEC. The two corridors intend to enhance connectivity, increase efficiency, reduce costs, secure regional supply chains, increase trade accessibility and generate jobs, resulting in a transformative integration of Asia, Europe and Middle East, according to the Ministry of External Affairs. The panel discussion was themed 'The Next Special Relationship: Deepening the Strategic Partnership between the Indo-Pacific and Europe.' Jaishankar was joined by Ararat Mirzoyan, the Minister of Foreign Affairs of Armenia; Abigael Vasselier, Director Policy & European Affairs; Head of Programmes, Foreign Relations, Mercator Institute for China Studies, Germany, and Francesco Parisi, President and Managing Director of the Parisi Group of Companies, Italy. While answering a question by the moderator and without taking names, Jaishankar indicated trust-based equations with countries such as who stands by in times of difficulty will have consequences on choices for trade too. 'Trust means, intuitively, we are comfortable with each other … by having similar values, similar approaches, sometimes by saying, okay, in my difficulty, who supported me, or in my security needs, who was willing to go the extra mile? It makes a difference.' 'So, let us say we've just come out of some security episodes right now. When I look at who stood by us, who would I trust, with whom am I comfortable, it will surely have consequences on my choices and on my decisions,' Jaishankar said, apparently referring to the recent India-Pakistan conflict post the April 22 Pahalgam terror attack. He had also pointed out how there's a realisation in Europe that a lot of its problems and solutions will have to be analysed and thought through by Europe itself and said, 'A Europe which is today more self aware, which is more self reliant, which is more strategically autonomous, will obviously want to look for partners who think similarly and can work with Europe in that respect.' 'And I think that gives a kind of an additional impetus to India-Europe relations which were evolutionary, but I predict a very sharp acceleration in that,' the EAM added. PTI NPK NPK NPK This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Time of India
13-06-2025
- Business
- Time of India
IMEEC to have profound impact on world connectivity, says EAM Jaishankar
Terming connectivity as an important part of diplomacy, External Affairs Minister S Jaishankar on Friday said the IMEEC once completed will offer a significant land- and sea-based connectivity to Europe all the way up to the Pacific. The India-Middle East Europe Economic Corridor (IMEEC) will comprise two separate corridors, the east corridor connecting India to the Gulf and the northern corridor connecting the Gulf to Europe. Highlighting the need for land, sea, and air connectivity "in as many options and as many variants as possible," Jaishankar told a panel discussion at the inaugural Raisina Mediterranean 2025 here, "The connectivity initiatives, I think, have become a very important part of diplomacy today." Even when the IMEEC is not in place as yet, Europe has a "fairly ready and efficient access" to India's western coast, despite the threats by Houthis to shipping, he said. "We are making very major investments in railways, and then trying to connect eastern India all the way to Vietnam." Reminding the audience how the Suez Canal took ages to make, he said, "But once it was done, you see what a profound impact it's had on the world. So actually, if we can pull that (IMEEC) off, you will get from Europe a route all the way to the Pacific, which will be significantly land based, but partly sea based." Live Events "And in some ways, it would be a counter to the reliance on the Arctic, whenever the Arctic opens up. The connectivity game is a long game," he said. On the sidelines of the G20 Leaders' Summit in New Delhi in 2023, India, European Union , France, Germany, Italy, Saudi Arabia, UAE and the US announced an MoU committing to work together to develop the IMEEC. The two corridors intend to enhance connectivity, increase efficiency, reduce costs, secure regional supply chains, increase trade accessibility and generate jobs, resulting in a transformative integration of Asia, Europe and Middle East, according to the Ministry of External Affairs . The panel discussion was themed 'The Next Special Relationship : Deepening the Strategic Partnership between the Indo-Pacific and Europe.' Jaishankar was joined by Ararat Mirzoyan, the Minister of Foreign Affairs of Armenia; Abigael Vasselier, Director Policy & European Affairs; Head of Programmes, Foreign Relations, Mercator Institute for China Studies, Germany, and Francesco Parisi, President and Managing Director of the Parisi Group of Companies, Italy. While answering a question by the moderator and without taking names, Jaishankar indicated trust-based equations with countries such as who stands by in times of difficulty will have consequences on choices for trade too. "Trust means, intuitively, we are comfortable with each other ... by having similar values, similar approaches, sometimes by saying, okay, in my difficulty, who supported me, or in my security needs, who was willing to go the extra mile? It makes a difference." "So, let us say we've just come out of some security episodes right now. When I look at who stood by us, who would I trust, with whom am I comfortable, it will surely have consequences on my choices and on my decisions," Jaishankar said, apparently referring to the recent India-Pakistan conflict post the April 22 Pahalgam terror attack. He had also pointed out how there's a realisation in Europe that a lot of its problems and solutions will have to be analysed and thought through by Europe itself and said, "A Europe which is today more self aware, which is more self reliant, which is more strategically autonomous, will obviously want to look for partners who think similarly and can work with Europe in that respect." "And I think that gives a kind of an additional impetus to India-Europe relations which were evolutionary, but I predict a very sharp acceleration in that," the EAM added.
Time of India
29-04-2025
- Business
- Time of India
Mumbai-Ahmedabad bullet train to be operational by 2028, says Maharashtra CM Devendra Fadnavis
File photo: Maharashtra CM Devendra Fadnavis (Picture credit: PTI) NEW DELHI: The much-awaited Mumbai-Ahmedabad bullet train project will be ready for operations by 2028, Maharashtra chief minister Devendra Fadnavis announced on Monday, while also revealing that the state aims to raise $50 billion from international investors to accelerate infrastructure development. 'By 2028, we will be able to travel in the bullet train,' Fadnavis said while speaking at an event on the India-Middle East Europe Economic Corridor (IMEEC) project. He acknowledged that Gujarat has made faster progress on the project and attributed delays in Maharashtra to the previous state government. Without naming Shiv Sena (UBT) chief Uddhav Thackeray, Fadnavis said the project had suffered during the two-year rule until 2022. 'After the new government came to power, we gave necessary approvals and work started rapidly,' he added. The Mumbai-Ahmedabad high-speed rail corridor is being built with Japanese assistance at an estimated cost of $15 billion. Fadnavis criticised the earlier Maha Vikas Aghadi (MVA) government, claiming the bullet train project was halted for two and a half years under their leadership. 'If we are investing Rs 70,000 to Rs 80,000 crore on bullet trains and stopping the work for 2.5 years, who will have to bear the cost of the interest that is incurred?' he questioned. Highlighting the state's infrastructure goals, Fadnavis said Maharashtra is targeting a $1 trillion Gross State Domestic Product ( GSDP ), and infrastructure development is crucial to achieving that. He said $30 billion was invested during his earlier term (2014–19) and larger amounts are now being deployed in key projects. Among the major developments planned is the Vadhavan port , which is expected to be operational within the next 3–4 years. Built on reclaimed land, the port will also feature an adjoining airport developed through land reclamation in the sea. 'Many major cities in the world have such airports,' Fadnavis said, asserting that the infrastructure will significantly reduce logistics costs. The port will also include a halt for the bullet train. Fadnavis further announced that a highway from Nashik to the Vadhavan port is underway, connecting 17 districts to the new maritime hub. He also spoke about the Shaktipeeth highway , which aims to link Nagpur to Goa via backward regions of the state, thereby giving a push to regional economic development. Reinforcing Maharashtra's role in the IMEEC project , Fadnavis assured that Mumbai and the state would create a strong enabling ecosystem. Speaking at the same event, PwC India chairperson Sanjeev Krishan said the IMEEC, when integrated with existing trade corridors, will create a 'multiplier effect' on the global economy. Stay informed with the latest business news, updates on bank holidays and public holidays . Master Value & Valuation with ET! Learn to invest smartly & decode financials. Limited seats at 33% off – Enroll now!
India Today
29-04-2025
- Business
- India Today
India's first bullet train to be operational by 2028: Devendra Fadnavis
The USD 15 billion Mumbai-Ahmedabad bullet train project, which is being constructed in association with Japan, will be up and running by 2028, Maharashtra Chief Minister Devendra Fadnavis stated on Monday. Fadnavis further stated that the state plans to raise USD 50 billion from global financiers for developing infrastructure in the state, which will be announced in four stated the bullet train project lagged during a two-year tenure up to 2022, but the work is now going on in full 2028, we will have the option of travelling on the bullet train," Fadnavis stated, admitting that neighbouring state Gujarat is ahead of Maharashtra in the development of the project. Fadnavis stated that developing infrastructure is extremely crucial to reach the target of USD 1 trillion GSDP, and that USD 30 billion was spent on infrastructure development during his first term as chief minister from 2014-19, and more funds are being invested in crucial projects an address on the India-Middle East Europe Economic Corridor (IMEEC) project of VRF during an event held here, he indicated the Vadhavan port would start operations in 3–4 years from to him, since the port will be constructed on reclaimed land, the cost of logistics would decrease as the turnaround time for JNPA, the biggest container port nearby in India, is Vadhavan port will also be accompanied by a surrounding airport that will be constructed through land reclamation off the sea, Fadnavis explained, commenting that most big cities across the world have such airports. It will also include a bullet train halt, Fadnavis chief minister stated that Maharashtra is constructing a road from Nashik to Vadhavan port that will make sure that 17 districts of the state become connected with the new state is constructing the Shaktipeeth road to link Nagpur with Goa, Fadnavis stated, adding that this road link, going through the backwards areas, will also prove beneficial in increasing the economic stated that Mumbai and Maharashtra would be key to the IMEEC, and promised that the state would develop the enabling ecosystem for the project to the same event, Sanjeev Krishan, the country chairperson of consultancy firm Pwc, stated that the corridor, when added to the existing trade corridors, will have a multiplier effect on the world economy.
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Business Standard
28-04-2025
- Business
- Business Standard
Bullet train to be operational by 2028: Maharashtra CM Devendra Fadnavis
The $15 billion Mumbai-Ahmedabad bullet train project being built in collaboration with Japan will be operational by 2028, Maharashtra Chief Minister Devendra Fadnavis said here on Monday. Without naming Shiv Sena's Uddhav Thackeray, Fadnavis said the bullet train project suffered during a two-year rule until 2022, but now the work is in full swing. "By 2028, we will be able to travel in the bullet train," Fadnavis said, conceding that neighbouring state Gujarat is ahead of Maharashtra in project development. The minister said creating infrastructure is very important to achieve the goal of a $1 trillion GSDP, and that $30 billion was invested in infrastructure creation during his first stint as the chief minister between 2014-19, and more money is being put into important projects now. Fadnavis also said the state is looking to raise $50 billion from international financiers for infrastructure development in the state, and announcements for the same will be made in four months. Speaking at an event on the India-Middle East Europe Economic Corridor (IMEEC) project organised by VRF here, he said the Vadhavan port will be operational in the next 3-4 years. Jawaharlal Nehru Port Authority (JNPA) holds 74 per cent equity in the project, while the rest is held by the Maharashtra Maritime Board (MMB). The port project worth over Rs 76,220 crore is being executed through the Vadhvan Port Private Limited (VPPL). He said the port, being built on reclaimed land, will help reduce the cost of logistics, pointing out that the turnaround time at JNPA, India's largest container port located nearby, is higher. The Vadhavan port will also have an adjoining airport which will be built through land reclamation on the sea, Fadnavis said, adding that many major cities in the world have such airports. Vadhavan will also have a halt for the bullet train, Fadnavis said. The chief minister said Maharashtra is building an access-controlled highway from Nashik to Vadhavan port which will ensure that 17 districts of the state get connected with the modern port. Moreover, the chief minister also stated that the government will build a new airport in Pune district, a new terminal at Shirdi airport, and a brownfield airport in Nagpur. The state is building the Shaktipeeth highway to connect Nagpur with Goa, Fadnavis said, adding that this road project passing through the backward regions will also help boost economic growth. He said Mumbai and Maharashtra will play an important role in the IMEEC, and assured that the state will create the facilitating ecosystem for the project to be a success. Speaking on Tesla's entry into India, Fadnavis stated that the state government would always try to welcome Tesla, but only Elon Musk can talk about it. Recently, Tesla leased a showroom space in Mumbai's Bandra Kurla Complex (BKC). Additionally, the minister stated that Mumbai missed out on the IT revolution amid scarcity of land and high rentals. However, he went on to emphasise the increased data centre activity in the region. Speaking on peer comparison with Andhra Pradesh and its land-related incentives for industrial development, Fadnavis said, 'No, I am not worried (about the competition). Because Andhra Pradesh can have anything, but they cannot have Mumbai and Pune. Ultimately, you need to have Mumbai. Mumbai is Mumbai. You cannot compete with Mumbai.' He stated that the government aims to build the Third Mumbai near Navi Mumbai and the Navi Mumbai International Airport, which itself will have an education hub, trade hub, technology hub, agriculture hub, etc., and the Fourth Mumbai around Vadhavan port and Vadhavan airport.
