Mediterranean Plays Crucial Role In Linking Indo-Pacific With Atlantic: EAM Jaishankar

The Mediterranean nations play a crucial role in linking the Atlantic with the Indo-Pacific, said External Affairs Minister S Jaishankar as India seeks to strengthen the relationship amid a rapidly growing economy.

India’s trade with the Mediterranean reached USD 77.89 billion, which is an increase of about USD 10.89 billion from the previous year.

Addressing the inaugural India-Mediterranean Business Conclave in New Delhi on Friday, the minister reiterated the long-standing historical connections between India and the Mediterranean. He also said that there is a huge opportunity for deeper economic and strategic ties and highlighted the region's centuries-old trade routes that have facilitated the exchange of goods, ideas and cultures between the East and West.

Jaishankar also introduced the India-Middle East-Europe Economic Corridor (IMEC), announced at the G20 Summit in New Delhi, as a vital initiative for enhancing global connectivity. He noted that IMEC could serve as a cornerstone for economic cooperation, promoting sustainable growth and resilience across critical regions.

The minister highlighted India's growing role in defence, technology and energy cooperation, particularly in the Mediterranean’s oil and gas sector. He noted the region's potential in green hydrogen and green ammonia, areas where Indian businesses are already active.

As India continues to expand its urban infrastructure and embrace digital advancements, Jaishankar stressed the opportunities for Mediterranean nations to collaborate on projects like smart city development, transportation upgrades and digital infrastructure, including undersea cables and telecommunications.

India, currently the fifth-largest economy, aims to become the third-largest by the decade’s end, Jaishankar reaffirmed India's commitment to fostering investment and collaboration in sectors like renewable energy, maritime trade and food processing. He also pointed out the importance of India’s role in initiatives like the International Solar Alliance and the One Sun, One World, One Grid project, which seeks to build a trans-regional green grid.

Amid challenges posed by ongoing conflicts in West Asia, Jaishankar emphasised the need for enhanced connectivity, highlighting the importance of cooperation between India, Europe and the Middle East.