Skip to content Skip to Search
Skip navigation

India-Middle East-Europe corridor to revive spice route

Cuisine in India and the Middle East is ‘incomplete without spices’, said Indian minister Piyush Goyal Unsplash.com
Cuisine in India and the Middle East is ‘incomplete without spices’, said Indian minister Piyush Goyal

Indian spices and spice products are likely to be the first commercial products to find their way through the new India-Middle East-Europe Economic Corridor (Imec), an Indian minister has said.

Imec, announced last month at the G20 summit in New Delhi, India, aims to integrate railway routes and link ports along a route from India to Europe, through the UAE, Saudi Arabia, Jordan and Israel.

Taking the first steps to promote the corridor, India’s commerce and industry minister Piyush Goyal said the corridor is similar to the historic “spice route”, the UAE state-run Wam news agency reported.

“So, we should be looking up to this new initiative as an appropriate opportunity to celebrate the flavours of India and the versatility of the country in the regions covered by the corridor. Let Indian spices capture world markets,” he told the World Spice Congress in Navi Mumbai, India.

The minister urged the 35 million-strong people of Indian origin residing across the world, including the GCC, to be brand ambassadors “to encourage increased consumption of spices across the world”.

The cross-border ship-to-rail transit corridors will reduce shipping costs across the network and facilitate trade in goods and services to, from, and between the UAE, Saudi Arabia, India and Europe, UAE state-run news agency Wam reported.

The initiative will focus on advancing energy infrastructure, helping with the production and transportation of environmentally-friendly green hydrogen to all participating nations.

Latest articles

STC wants to consolidate the mobile tower market

STC approves PIF purchase of telecom company

Shareholders of Saudi telecom giant STC have approved plans to create a new telecommunications infrastructure company in which the Public Investment Fund will have a 51 percent stake valued at SAR8.7 billion ($2.3 billion).  Under the deal, the STC-owned Telecommunication Towers Co. Limited (Tawal) will become a PIF subsidiary through a merger with Golden Lattice […]

Flavio Cattaneo of Enel, of which Endesa is a subsidiary, and Mohamed Jameel Al Ramahi at the signing of the deal

Masdar buys stake in Spanish utilities company Endesa

The UAE’s state-owned clean energy company Masdar has agreed to acquire a minority stake in Spanish electric utility business Endesa to partner for 2.5 gigawatts (GW) of renewable energy assets in Spain. Under the agreement, subject to regulatory approval, Masdar will invest nearly $890 million to acquire a 49.99 percent stake in Endesa, with an […]

Person, Worker, Adult

Aramco and PIF invest in Saudi-Chinese steel venture

Saudi Aramco and the Public Investment Fund have doubled their investment in a steel plate joint venture with a Chinese company to $500 million. The two Saudi companies each own 25 percent shares in the new venture in Ras Al Khair industrial city, Bloomberg reported, quoting a statement published on the Chinese stock exchange. Chinese […]

Car, Transportation, Vehicle

Dubai Taxi to pay $43m dividend despite profit drop

Dubai Taxi Company, a subsidiary of the emirate’s transport regulator, has approved a dividend payout of AED159 million ($43 million) for the first half of 2024 despite a marginal 1 percent increase in net profit. Net earnings reached AED187.4 million in the first six months of the year, compared to AED186.3 million at the same […]