A deal was struck on Saturday for building an India-Middle East- Europe Economic Corridor (IMEE EC) traversing the route both by rail and sea. The ambitious project, already christened “the new Spice Route” is driven as much by trade compulsions as geo-political concerns, with the participating sovereign states bringing their variant resources to the table and laying the basic groundwork for it to take off. While most experts welcome the proposal, given the commercial potential it holds, they are also privy to the challenges such a mega initiative poses in getting it off the ground.
