Iran starts transfer of Russian goods to India by using INSTC

According to news sources, Iran’s state-run shipping company has started its first transfer of Russian goods to India, using a new trade corridor that transits Iran.

More information

• The Russian cargo consists of two 40-foot containers of wood laminate sheets departed St. Petersburg.

• It will travel to India via the Caspian Port of Astrakhan and Iranian Port of Anzali and from there to Bandar Abbas Port and thereafter to Western Indian ports to operationalise INSTC.

About North-South Transit Corridor (INSTC)

• North-South Transit Corridor uses Iran to link Russia to Asian export markets.

• The plan involves eventually building a railroad line that can transfer goods arriving at Iranian Caspian Sea ports to the southeastern port of Chabahar.

• The total journey will take less than 25 days, compared to the nearly 40 days it currently takes to transport goods from Russia to India and vice-versa. Besides reducing time taken for trade between India and Russia,

• INSTC is considered a viable option for Indo-Russian trade amid current geo-political challenges.

• INSTC, in the longer run, would be an alternative to the Suez Canal and Mediterranean dominated by some powers and Bosporus.

• International North-South Transport Corridor (INSTC) is a multi modal transportation established in 2000 for the purpose of promoting transportation cooperation among the Member States.

• This corridor connects India Ocean and Persian Gulf to the Caspian Sea via Iran, Islamic Rep., and is then connected to Saint Petersburg and North European via Russia.

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