Not sure why USA had to announce it as the corridor isn’t even connecting them.
Because USA is a superpower and has a significant influence in Middle East including a lot of USA's military base in Middle East!!
Not sure why USA had to announce it as the corridor isn’t even connecting them.
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The extraordinary level of hostilities between Israel and Hamas are expected to cast a shadow on two of the major initiatives that the country has launched with India and other stakeholders. A highly placed source here said that both the I2U2 (India, Israel, US. .and United Arab Emirates) and IMEC (India Middle East EU Economic Corridor) that were aimed at creating new partnerships for India’s post-COVID economic plans are expected to suffer because of the Hamas attack on Israel.
https://www.thehindu.com/news/national/ ... 400579.eceThe I2U2 was planning to begin food parks in Gujarat and Madhya Pradesh and was expected to focus on a hybrid renewable energy project in Gujarat. The July 2022 statement mentioned that the US would invest $2 billion in Indian projects that are backed by Israeli technology. The ambitious initiative was being viewed as an outcome of the Abraham Accords of September 15, 2020 that was aimed at creating conditions of cooperation between Israel and Arab states like the United Arab Emirates and Bahrain.
Atithee wrote: ↑Mon Oct 09, 2023 7:09 pm It was more of a PR exercise anyway. Not sure why USA had to announce it as the corridor isn’t even connecting them. It was purely a response to the belt and road China initiative. Not sure how serious the project was to begin with. Nonetheless, it isn’t good for India.
rajitghosh wrote: ↑Tue Oct 10, 2023 12:49 am Not sure the story about Indian exports not being great is entirely correct. India is doing extremely well in auto component exports and in automobiles especially 2 wheelers and tractors. Many Indian companies have achieved global scale. Same in pharma generics and certain speciality chemicals.
In automobiles and auto components Indian owned companies like Mahindra, TVS group, Balkrishna Tyres, Bharat Forge, Motherson Sumi have achieved both scale and quality at global level. Many have won the Deming prize. Then we have the MNCs operating export plants out of India. Middle East and Israel are important stakeholders for many of them.
Large portion of auto industry exports is to USA and Europe. In fact developing countries would be less.arjun2761 wrote: ↑Wed Oct 11, 2023 9:49 pmrajitghosh wrote: ↑Tue Oct 10, 2023 12:49 am Not sure the story about Indian exports not being great is entirely correct. India is doing extremely well in auto component exports and in automobiles especially 2 wheelers and tractors. Many Indian companies have achieved global scale. Same in pharma generics and certain speciality chemicals.
In automobiles and auto components Indian owned companies like Mahindra, TVS group, Balkrishna Tyres, Bharat Forge, Motherson Sumi have achieved both scale and quality at global level. Many have won the Deming prize. Then we have the MNCs operating export plants out of India. Middle East and Israel are important stakeholders for many of them.
That is good to see. However, how much of this is sales to Europe which would benefit from this corridor versus sales to Africa, Middle East, and other parts of Asia which we can reach quite effectively without this corridor.
Have definitely seen India as a major generic supplier (with Israel), so perhaps that is a sector that may benefit some from this.
With respect to MNCs, producing in India is definitely something many are exploring but not sure if much of it is being shipped back to US/Europe. For example, Apple is making iPhones in India through its foundry (Foxconn) but my understanding is that is mostly targeted to the Indian market. At least for the US, the popular alternate manufacturing sites appear to be Mexico and SE Asian countries (such as Vietnam).
https://frontierindia.com/imec-hangs-by ... ves/?amp=1“The prospects for US plans regarding the IMEC—or, in the broader context, Saudi-Israel peace— now appear uncertain,” a geopolitical analyst has pointed out.
It was almost certainly engineered to stop the Saudi-Israel deal. But not by China, and definitely not because China takes IMEC all that seriously. It was done by a host of middle-east folks (quite possibly led by Iran, but tacitly supported by a lot of others, and maybe 90 perent of the people in the middle east). They just did not want Israel to get established as a country whom key Mulsim countries like S.Arabia may treat like a normal country. They just could not afford that. They needed the Palestinian issue be there, and they needed Palestinians to continue to suffer, so they could point to that suffering and ask for Israel to not exist. Hamas and their supporters surely knew that Israel would do what they are doing now. They didn't care one bit about the suffering the people in Gaza strip would undergo, when they started this off.Saffron Lenin wrote: ↑Wed Oct 18, 2023 8:54 pm I am seriously considering the possibility that this whole Israel-Gaza fiasco is engineered by China to stop peace deal between Saudi and Israel and thus sabotaging IMEC.