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

Saudi aluminium producer Talco is offering 12 million shares

Aluminium producer Talco announces Saudi IPO

Aluminium producer Al Taiseer Group Talco Industrial Company (Talco) is the latest entity to reveal initial public offering (IPO) plans in Saudi Arabia. The Riyadh-based company, which was set up in 2009, is offering 12 million shares, a 30 percent stake, on the Saudi Exchange (Tadawul) at a nominal value of SAR10 ($2.67) per share. […]

One of the four restaurants in the Palazzo Versace Dubai hotel, which is listed on the Emirates Auction website

Palazzo Versace hotel sale aims to ride Dubai tourism wave

Owners of Dubai’s ultra-luxurious Palazzo Versace hotel are looking to capitalise on the emirate’s tourism boom before it peaks, offering it for sale at nearly AED1.4 billion ($380 million). A source familiar with the asset told AGBI the hotel is being “readvertised” as it has not found a buyer willing to meet its price tag […]

Wind turbines in Bozcaada, Turkey. The country wants to strengthen its renewable energy sector by developing the solar power market

Turkey’s renewables scheme given $1bn by World Bank

The World Bank has signed a $1 billion programme with Turkey to fast-track the nation’s renewable energy expansion initiatives. The financing comprises €600 million ($657 million) in loans from the International Bank of Reconstruction and Development, $30 million from the clean technology fund, and $3 million in grant funding from the World Bank’s energy sector management assistance […]

Mark Foster, who played professional rugby for Gloucester and now heads LIV Golf, says the sport is ripe for investment

LIV Golf chief says rugby next in line for Gulf funds

Talks are taking place with sovereign wealth funds and private equity entities about potential Gulf investment in rugby, according to Mark Foster, senior vice president of finance operations at Saudi-backed LIV Golf Investments. Foster, a former Gloucester and Exeter Chiefs professional rugby player, told The Good the Bad & the Rugby podcast that discussions have […]