Markets: Sonowal calls on businesses to work through Chabahar to Central Asia

India works on cheaper, reliable route through Iran and INSTC to Europe

Indian Minister Sarbanand Sonowal has called on businesses and logistics companies to work through the Shahid Beheshti Port and Chabahar Free Trade Zone in Iran which is linked by 7,200-km International North-South Transport Corridor (INSTC) to the 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,” said Sonowal, Minister of Port, Shipping and Waterways.

“We look forward to businesses and logistics companies to utilize the incentives of the Shahid Beheshti Port and Chabahar Free Trade Zone.

“We urge all the representatives and stakeholders to come forward with suggestions to reduce the transportation time and cost further, to make a cheaper, shorter, faster and more reliable route from India to Iran and Central Asia,” he said during Chabahar Day celebration in Mumbai on 31 July 2022.

INSTC is India’s vision and initiative to reduce the time taken for EXIM shipments to reach Russia, Europe and enter the central Asian markets.

The Chabahar Port is a multi-mode network of ship, rail, and road route for moving freight between India, Iran, Azerbaijan, Russia, Central Asia and Europe.

Delegates from the Central Asian countries at the celebration highlighted how Chabahar link with INSTC can play a vital role in boosting EXIM trade in their regions and its potential to further boost development in the landlocked countries. fiinews.com