Infrastructure

Economic Affairs

Title

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Indian Economy - Understanding the basics of Indian economic system

Consider the following statements regarding the India-Middle East-Europe economic corridor

This economic corridor will include both railway and road transport routes.
It is part of the Partnership for Global Infrastructure Investment (PGII).
This project includes India, the UAE, Saudi Arabia, the European Union, France, Italy, Russia, Germany and the US.

How many of the statements given above is/are correct?

Only One

Only Two

All Three

None

Only statements 1&2 are correct.

Recently, the Prime Minister of India announced the launch of the India-Middle East-Europe mega economic corridor.

This project includes India, the UAE, Saudi Arabia, the European Union, France, Italy, Germany and the US.
The project will aim to enable greater trade among the involved countries, including energy products.
The IMEC comprises of an Eastern Corridor connecting India to the Gulf region and a Northern Corridor connecting the Gulf region to Europe.
It will include a railway and ship-rail transit network and road transport routes.
The corridor will include a rail link as well as an electricity cable, a hydrogen pipeline and a high-speed data cable.
In the coming times, it will be a major medium of economic integration between India, West Asia and Europe.
The rail and shipping corridor is part of the Partnership for Global Infrastructure Investment (PGII).

Significance

It would increase prosperity among the countries involved through an increased flow of energy and digital communications.
The project would help deal with the lack of infrastructure needed for growth in lower- and middle-income nations.

Hence option 2nd is correct.

By: Shubham Tiwari