New Delhi, Sep 6 (Reporter) The India-Middle East-Europe Economic Corridor (IMEC), announced at the G20 summit in New Delhi last year, aims to become a cornerstone of global connectivity, External Affairs Minister S Jaishankar said today, even as he called for greater connectivity and collaboration between India and the Mediterranean region. Addressing the inaugural CII India Mediterranean Business Conclave, a new initiative by the MEA in collaboration with CII, the EAM said the strategic location of the Mediterranean, with approximately 600 ports that services 25% of global seaborne trade, establishes it as a crucial hub. He said India plays an equally vital role in the Indo-Pacific extending its reach westwards. “Given both the location and centrality, and the levels of activity, it makes eminent sense to connect the two for mutual benefit.” The EAM said that India’s relationship with countries of the Mediterranean region has progressed in recent years, with trade reaching USD 77.89 billion in 2023. “We have promoted investments in critical sectors, including infrastructure, energy, and technology.” He called for deepening the defence and security connect with the Mediterranean region, including with more industry interaction through Make in India in the defence domain. He said the region’s vast green hydrogen and green ammonia potential present new opportunities for collaboration with India, as well as for cooperation in the area of shipping and maritime infrastructure. EAM also called for greater collaboration with the Mediterranean region in the realm of urban infrastructure, and said that India which builds two new metros and seven airports annually can be a serious partner in this. “Today, India is the 5th largest economy that could become the 3rd largest by 2030. Given this momentum, we want to deepen our engagement with the Mediterranean region. Initiatives such as 'Make in India' and 'Atmanirbhar Bharat' are designed to empower potential investors and drive growth in India. We offer enormous opportunities for Mediterranean countries to invest, trade, collaborate on tech, and exchange mutual expertise,” he added. He said India’s renewable energy sector, food processing industry and Sagarmala ports modernisation programme, are areas for collaboration. Mentioning the ongoing Middle East conflict and the Houthi attacks on maritime traffic in the Red Sea region, he said: “The ongoing conflict in West Asia understandably has generated concerns about some of the contemporary initiatives. Disruptions in crucial shipping routes that have increased shipping costs and necessitated the rerouting of trade flows, have added to our collective worries. “But if you reflect on these happenings, they only strengthen the case for derisking. As the three hubs of India, Europe and the Middle East step up their interactions, connectivity will be more needed, not less,” he added...////...