Chabahar Port’s link with INSTC to enhance connectivity to Central Asia, says Sonowal

MUMBAI: Chabahar Port’s link in Iran with the International North-South Transport Corridor will enhance connectivity with Central Asian countries, drive investment and deepen cultural and political ties, Union Minister Sarbananda Sonowal said on Sunday.

The International NorthSouth Transport Corridor (INSTC) is India’s vision and initiative to reduce the time taken for EXIM shipments to reach Russia and Europe, and enter the Central Asian markets.

The Chabahar Port, which has been developed through Indian assistance, is the commercial transit centre for the region, especially Central Asia. India is participating in the development of the first phase of the Shahid Beheshti Terminal at Chabahar Port in cooperation with the Iranian government.

“This link will not only offer more connectivity but will also drive investment, further supporting our culture and political ties,” Union Shipping Minister Sarbanand Sonowal said at an event held here to observe Chabahar Day’ to promote ‘Chabahar - Link to INSTC - Connecting Central Asian Markets’. “Our vision is to make Shahid Beheshti Port at Chabahar a transit hub and linking it to INSTC to reach out to Central Asian Countries,’’ he said.

Owing to the potential of the Central Asian market, the India-led connectivity initiatives help provide secure and commercially-viable access to the Indian Ocean region for Central Asian countries, he said. The minister said the port is a strategically located facility which can connect Central Asia and also South Asia and added, it is going to be one of the most important locations for global trade and maritime trade.

He noted that the port will improve the logistics network of the region and promote joint initiative to create a regional transnational transport corridor which will boost not only India’s trade but global trade.

“Through our cooperation, our combined efforts, we have successfully developed a point of connectivity enhancing trade and commerce among India and central Asian countries.

“India is working towards developing an alternative vista with the Central Asian region in order to unlock the huge trade potential that belies this strong relationship India enjoys with the Central Asian countries. The idea of INSTC via the vibrant Shahid Beheshti Port at Chabahar is an idea to connect the two markets, using a multi-modal logistic corridor, Sonowal said.

This meeting will provide us a platform on how to put the Chabahar Port in the International North-South Transport Corridor, the minister stated.

He said India was looking forward to businesses and logistics companies utilising the incentives of the Shahid Beheshti Port and Chabahar Free Trade Zone.

“The Chabahar Free Trade Zone is an opportunity for the logistics companies to reap allowing the trade to bloom. Once we start exploring this route for trade, we will be able to rationalise our logistical cost, in terms of money and time, helping build an economical, faster, & shorter route between the two regions, he said.