India and France have agreed to strengthen links between two of their largest ports and others, giving fresh momentum for a proposed commercial corridor stretching from South Asia to Europe that 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 realising the India-Middle East-Europe Economic Corridor (IMEC).
The memorandum of understanding, signed on Wednesday, calls for 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-mile) multimodal transport initiative linking Indian ports to Europe via the Middle East through a network of shipping routes and rail lines. Backers say the project could cut transit times by 40 per cent and costs by 30 per cent compared with existing trade routes between the two regions.
Marseille Fos is one of Europe’s largest integrated port ecosystems, while Adani Ports’ Mundra facility is India’s biggest commercial port.
Analysts expect Mundra and Hazira – both operated by Adani Ports – to enhance connectivity between South Asia and West Asia under the proposed corridor.