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‘Chabahar Day’ observed to promote Chabahar – Link to INSTC - Connecting Central Asian Markets
Context
The Ministry of Port, Shipping and Waterways (MoPSW) on July 31st observed ‘Chabahar Day’ in Mumbai to mark the Chabahar – Link to International North-South Transport Corridor (INSTC) – Connecting Central Asian Markets.
About
- India’s vision: To make Shahid Beheshti Port at Chabahar a transit hub and linking it to INSTC to reach out to Central Asian Countries.
- INSTC (International North-South Transport Corridor) is India’s vision and initiative to reduce the time taken for EXIM shipments to reach Russia, Europe, and enter the central Asian markets.
Chabahar Port:
- The Chabahar Port is a key pillar of India’s India-Pacific vision to connect Eurasia with the Indian Ocean Region.
- The Chabahar Port located in Iran is the commercial transit center for the region and especially Central Asia.
- The port will also be part International North-South Transport Corridor network connecting India.
- Notably, the first rail transit cargo from Russia to India entered Iran recently through the Sarakhs border crossing, marking the official launch of the eastern section of the North-South railway corridor.
International North-South Transport Corridor:
- International North-South Transport Corridor is a corridor to increase trade between India and Russia.
- This trade route is 7200 Km long and the transport of freight is through a multi-mode network of roads, ships, and railways.
- This route connects India and Russia through Iran and Azerbaijan.
- The corridor is aimed at reducing the carriage cost between India and Russia by about 30 per cent and bringing down the transit time from 40 days by more than half.
- Russia, India, and Iran are the founding member states of INSTC.
- The agreement was signed in 2002.
- There are 13 member states of the INSTC project – India, Iran, Russia, Azerbaijan, Armenia, Kazakhstan, Belarus, Tajikistan, Kyrgystan, Oman, Turkey, Syria and Ukraine.
- Bulgaria is the Observer State. The Baltic countries like Latvia and Estonia have also expressed willingness to join the INSTC.
- India shows interest in extending INSTC membership to countries like Afghanistan and Uzbekistan.
- Establishing a land route via Kabul and Tashkent to form the INSTC’s “Eastern corridor” would maximise the potential of this collaboration.
- Also, India wants to include Chabahar port to be included in the International North-South Transport Corridor (INSTC).
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Central Asia:
Why Central Asia assumes significance for India?
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