Piyush Goyal Declares IMEC a Game-Changer That Respects Every Nation’s Sovereignty

During the IMEC Conclave 2025, Commerce Minister Piyush Goyal reiterated India's pledge to uphold the sovereignty of all member countries in the India-Middle East-Europe Economic Corridor (IMEC). Goyal made a clear distinction between IMEC and other international infrastructure projects, saying, "IMEC is not attempting to dominate, which the Belt and Road Initiative is now being seen to become—a political tool to attempt to dominate some regions and their economic future."

Emphasizing the central philosophy of IMEC, Goyal insisted that the project is "not adversarial," and that "money is not the only driver." Rather, the corridor aims to bring friendship, inclusive growth, and sustainable development among the participants to the corridor, which include Saudi Arabia, India, the US, and European countries. The minister added that the pursuit of financial viability and debt-free operations is the key to IMEC's policy, and overall to further amity and economic integration among Asia, the Middle East, and Europe.

Goyal also proposed enlarging the corridor's coverage to encompass interoperable standards and a Virtual Trade Corridor, further facilitating cooperation and regulatory harmonization among the member nations. The announcement reflects India's vision for an economic future that is cooperative and respect for sovereignty.

Source: The Economic Times