Updated: Jul 31, 2022 5:00 PM STI
Bombay [India]July 31 (ANI): The Ministry of Ports, Shipping and Waterways (MoPSW) observed ‘Chabahar Day’ in Mumbai on Sunday to mark Chabahar – Link to International North-South Transport Corridor (INSTC) – Connecting Central Asian markets.
Sonwal said in his speech that India’s vision is to make Shahid Beheshti port in Chabahar a transit hub and link it with INSTC to reach Central Asian countries, the statement said. MoPSW press.
He said India is looking forward to businesses and logistics companies using the incentives of Shahid Beheshti Port and Chabahar Free Trade Zone.
The Union Minister further urged all representatives and stakeholders to come up with suggestions to further reduce transport time and costs to create a cheaper, shorter, faster and more reliable route between India and Iran and Central Asia, the statement added.
The event was attended by Minister of State, MoPSW, Shripad Yesso Naik, Nurlan Zhalgasbayev, Ambassador-Republic of Kazakhstan, Asein Isaev, Ambassador- Kyrgyzstan, Lukmon Bobokalonzoda Ambassador Tajikistan, Shalar Geldynazarov Ambassador, Turkmenistan, Dilshod Akhatov, Ambassador – Uzbekistan, Jalil Eslami, Deputy for Port and Economic Affairs of the PMO, Zakia Wardak, Consul General (CG), Afghanistan, Dr. AM Alikhani Consul General of the Islamic Republic of Iran, Masoud Ostad Hossein, Advisor to the Minister and Head of the Center of International Affairs, Ministry of Roads and Urban Development, Iran, Rajeev Jalota, Chairman, Indian Ports Association and Sunil Mukundan, MD, IPGL who graced the event with their presence alongside other esteemed guests.
During the event, delegates from Central Asian countries highlighted how Chabahar’s link with INSTC can play a vital role in boosting EXIM trade in their regions and its potential to further boost development in the countries. landlocked, according to the statement.
Chabahar Port is a key pillar of India’s India-Pacific vision to connect Eurasia with the Indian Ocean region.
The port will also form part of the international North-South Transport Corridor network linking India. INSTC (International North-South Transport Corridor) is India’s vision and initiative to reduce the time it takes for EXIM shipments to reach Russia, Europe and enter Central Asian markets.
The port of Chabahar located in Iran is the commercial transit center of the region and in particular of Central Asia.
Notably, the first rail transit cargo from Russia to India recently entered Iran through the Sarakhs border post, marking the official launch of the eastern section of the North-South rail corridor.
The North-South International Transport Corridor is a corridor intended to increase trade between India and Russia. This trade route is 7,200 km long and the transport of goods takes place via a multimodal network of roads, ships and railways. This route connects India and Russia via Iran and Azerbaijan.
The corridor aims to reduce the cost of transport between India and Russia by around 30% and cut the 40-day transit time by more than half.
Russia, India and Iran are founding member states of INSTC. The agreement was signed in 2002.
The INSTC project has 13 member states – India, Iran, Russia, Azerbaijan, Armenia, Kazakhstan, Belarus, Tajikistan, Kyrgyzstan, Oman, Turkey, Syria and Ukraine.
Bulgaria is the observer state. Baltic countries like Latvia and Estonia have also expressed their willingness to join the INSTC.
India is showing interest in extending INSTC membership to countries like Afghanistan and Uzbekistan.
Establishing an overland route via Kabul and Tashkent to form the INSTC “Eastern Corridor” would maximize the potential of this collaboration.
Furthermore, India wants to include Chabahar Port in the International North-South Transport Corridor (INSTC).
Potential export sectors in India that benefit from INSTC include perishables (fruits and vegetables), high value items such as ATMs, industrial printers, 3D printers, assembly accessories robotics, etc., cross-border e-commerce and sectors that are also. (ANI)