India and France have agreed to increase connections between two of their largest ports and others, giving fresh momentum for a proposed commercial corridor stretching from South Asia to Europe that some analysts say could rival China’s Belt and Road Initiative.
The agreement between India’s Adani Ports and France’s Port of Marseille Fos marks a key step towards making the India–Middle East–Europe Economic Corridor (IMEC) a reality.
The memorandum of understanding, signed on Wednesday, proposes the creation of an “IMEC Ports Club” to coordinate key ports along the corridor and strengthen trade connectivity between India and the European Union.
First announced in 2023, IMEC is a 6,000km (3,728 miles) multi-modal transport initiative linking Indian ports to Europe via the Middle East through shipping and rail. Officials behind the project say the route could cut transit times and costs by 40 per cent and 30 per cent, respectively, compared with the current modes of transport for trade between the two regions.
Marseille Fos is one of Europe’s largest integrated multi-modal port ecosystems, while Adani Ports’ Mundra facility is India’s largest commercial port.
Mundra and Hazira Port – the latter of which is also operated by Adani Ports – are also expected to enhance connectivity to South Asia and West Asia under the proposed corridor, according to analysts.
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