A multi-mode network for moving freight between India and Russia could soon be a reality

India and Russia could be connected to each other via a multi-mode network for carrying freight via the International North South Transportation Corridor (INSTC). The corridor would connect the two countries via Europe and Iran.

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A dry run of container movement via this green corridor (smooth customs facilitation) will soon be conducted, to honour the 70th anniversary of Indo-Russian diplomatic ties on April 13.

When used, INSTC will significantly reduce the time taken and cost for transport of goods between India and Eurasia, thus increasing economic activities between India and the resource-rich markets of Russia and Europe.

It was after India decided to join international customs convention TIR following approval from the cabinet that the corridor has moved to being implemented.

Delhi is working on INSTC as part of connectivity initiatives along with the implementation of China's One Belt One Road strategy.

Prime Minister Narendra Modi, who is set to visit St Petersburg for International Economic Forum in June, might also visit the Astrakhan entry point of INSTC in Russia.

Talking of INSTC, it is a 7,200-km long network which would have rail, road and water routes. By reducing the travel costs and time, it is all set to give a major boost to trade between Russia, Iran, Central Asia, India and Europe.

Also read: India to invest 1 lakh crore in Iran so that it can enter Central Asia without stepping into Pakistan

(Image source Youtube)