India and Greece Discuss Operationalization of IMEC Corridor and Shipbuilding Collaboration

Union Minister of Ports, Shipping, and Waterways Sarbananda Sonowal met with his Greek counterpart, Christos Stylianides, on Monday to discuss the progress and operationalization of the India-Middle East-Europe Economic Corridor (IMEC). The meeting, held on the sidelines of the ORF's Sagarmanthan, The Great Oceans Dialogue, focused on advancing the ambitious trade route and deepening collaboration in shipbuilding.

The IMEC, first proposed at the G20 summit in 2023, aims to connect India, the Middle East, and Europe via an integrated railways and sea routes network. The project is designed to enhance trade, reduce transit times, and streamline communication, providing a more efficient alternative to traditional trade routes.

Speaking to the media after the meeting, Sonowal reaffirmed India’s commitment to operationalising IMEC. He said, "We had a detailed discussion on the IMEC. It was decided during the G20 summit last year, and we are taking all necessary steps to operationalize it."

In addition to discussing the IMEC, Sonowal invited Greek shipping companies to take a more active role in India's burgeoning shipbuilding industry. He lauded Greece's leadership in global shipping and emphasized the importance of Greek investments in India. "We welcome Greek companies to operate in India and play a pivotal role in the shipbuilding sector," he said.

Stylianides echoed Sonowal’s optimism, stressing that both nations share common goals in strengthening maritime trade. "After the productive meetings between our ministers and leaders, we identified practical initiatives to collaborate, particularly in shipping and maritime affairs," he remarked.

The two ministers' discussions built on the broader strategic partnership between India and Greece. Prime Minister Narendra Modi and Greek Prime Minister Kyriakos Mitsotakis laid the groundwork for closer ties during their bilateral meetings earlier this year.

Despite the challenges posed by ongoing geopolitical tensions in the Middle East, particularly the conflict in Gaza, both leaders expressed strong support for the IMEC. Mitsotakis, speaking earlier this year, had emphasized that while regional instability was a concern, it should not deter progress on the corridor. "The situation in Gaza is destabilizing, but the rationale behind IMEC remains compelling," he had stated, reinforcing the corridor's potential as a "peace project" that will benefit all involved nations.

The partnership between India and Greece reflects a shared vision for enhancing global trade, bolstering infrastructure, and promoting sustainable maritime solutions. The successful realization of the IMEC will further cement their economic ties and contribute to regional stability and prosperity.