IMEC a 'modern Silk Route', will slash logistics cost by 30%: Goyal

India is likely to become a trusted and reliable bridge of global connectivity through the ambitious India-Middle East-Europe Economic Corridor (IMEC), Union Minister of Commerce and Industry Piyush Goyal announced at the High-Level Roundtable on Connectivity and Economic Growth held in New Delhi on Wednesday. Describing IMEC as a "modern-day Silk Route," Goyal emphasized that the initiative is not just about trade—it represents a transformative vision for inclusive global development. “It is a partnership of equals that will link civilizations, cultures, and commerce from Southeast Asia to the Gulf and from the Middle East to Central Europe,” he said. Highlighting its far-reaching impact, the Minister stated that IMEC is expected to reduce logistics costs by up to 30% and slash transportation time by 40%. The corridor will facilitate seamless trade linkages across continents and may further extend its reach to Africa through Middle Eastern connectivity.

INDIA-MIDDLE EAST-EUROPE ECONOMIC CORRIDOR

Shaping a sustainable future... pic.twitter.com/grSz7WN1Vr

— Piyush Goyal (@PiyushGoyal) April 16, 2025

Calling IMEC a "game-changer" in the realm of international commerce, Goyal reaffirmed India’s readiness to lead the initiative under the guiding spirit of Vasudhaiva Kutumbakam—"the world is one family." He concluded by saying, “India is committed to acting as a trusted bridge — fostering global cooperation, sustainability, and connectivity across geographies.”

(Business Correspondent)