"India can be a serious partner for Mediterranean economies": EAM Jaishankar

New Delhi: Indian External Affairs Minister (EAM) S Jaishankar on Friday emphasised India's potential as a reliable partner for Mediterranean economies, expressing his desire to significantly enhance India's engagement in the region.

Jaishankar also said that India's relationship with the countries of Mediterranean region has progressed in recent years. "... I believe trade levels have reached USD 77.89 billion last year," he said.

Addressing the CII India Mediterranean Business conclave 2024, Jaishankar said, "...The announcement of the India-Middle-East Europe Economic Corridor (IMEC) at the G20 Summit last year in New Delhi actually opened up many new promising perspectives."

Speaking on the progress made by the country in the sector of renewable energy, he said, "India has championed the One Sun, One World, One Grid initiative. This visionary endeavour seeks to build a transregional green grit enabling the transfer of renewable energy across geographies."

He added, "A country like India, which on average has built one and a half to two new metros every year, which has built seven new airports annually for the last ten years, we can be a serious partner for Mediterranean economies."

Speaking on India's growing economic position in the world, Jaishankar said, "Today, India is the fifth largest economy and that could well be the third largest by the end of this decade."
Expressing his desire to deepen India's relationship with the Mediterranean region,

Jaishankar said, "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."

Speaking on the digital corridor between India and the Mediterranean, Jaishankar said, "The prospect of an integrated digital corridor between India and the Mediterranean is also very intriguing. After all, high-speed and secure flow of information, data and digital transactions will soon become as essential as land routes and waterways."

Addressing the ongoing conflict in West Asia, Jaishankar noted that the situation has resulted in significant disruptions to shipping routes. "The ongoing conflict in West Asia understandably has generated concerns about some of these contemporary initiatives, disruptions and crucial shipping routes that have increased ship costs," Jaishankar said.