{"id":14236,"date":"2021-03-05T00:00:00","date_gmt":"2021-03-05T00:00:00","guid":{"rendered":"https:\/\/www.nextias.com\/current_affairs\/uncategorized\/05-03-2021\/international-north-south-trade-corridor-instc\/"},"modified":"2021-03-05T00:00:00","modified_gmt":"2021-03-05T00:00:00","slug":"international-north-south-trade-corridor-instc","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/05-03-2021\/international-north-south-trade-corridor-instc","title":{"rendered":"International North South Trade Corridor (INSTC)"},"content":{"rendered":"<p><strong>In News:<\/strong> India wants Chabahar port to be included in the 13-nation International North South Transport Corridor that extends from India to Russia and expand INSTC membership by including Afghanistan and Uzbekistan<\/p>\n<p><strong>International North South Trade Corridor (INSTC)<\/strong><\/p>\n<ul>\n<li>It is a 7,200-km-long multi-mode network of ship, rail, and road route for moving freight between <strong>India, Iran, Afghanistan, Azerbaijan, Russia, Central Asia and Europe<\/strong>.<\/li>\n<li>The route primarily involves moving<strong> freight from India, Iran, Azerbaijan and Russia via ship, rail and road. <\/strong><\/li>\n<li>The objective of the corridor is to <strong>increase trade connectivity between major cities such as Mumbai, Moscow, Tehran, Baku, Bandar Abbas, Astrakhan, Bandar Anzali,<\/strong> etc.<\/li>\n<li>Dry runs of two routes were conducted in 2014,\n<ul>\n<li>The first was <strong>Mumbai to Baku via Bandar Abba<\/strong>s .<\/li>\n<li>The second was <strong>Mumbai to Astrakhan via Bandar Abbas, Tehran and Bandar Anzali.<\/strong><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/cfstatic.nextias.com\/cdn-cgi\/image\/format=auto\/file_library\/mix_content\/825010413715465000_image.png\" style=\"height:416px; width:624px\" \/><\/p>\n<p><strong>Chabahar as the Major Link<\/strong><\/p>\n<ul>\n<li>Pitching for Chabahar in the I<strong>NSTC which goes via Iran\u2019s biggest port Bandar Abbas,<\/strong> Mr. Jaishankar proposed that the <strong>land route via Kabul and Tashkent<\/strong> would form the <strong>INSTC\u2019s \u201cEastern corridor\u201d.<\/strong><\/li>\n<li>Chabahar is <strong>one of crucial and strategic projects<\/strong> taken up by India.<\/li>\n<li><strong>Benefits:<\/strong>\n<ul>\n<li>Counters Chinese Influence in Gwadar.<\/li>\n<li>Helps in access to Afghanistan.<\/li>\n<li>Represents India\u2019s capability to build and operate ports in foreign countries.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><strong>Challenges in Completing the Project<\/strong><\/p>\n<ul>\n<li><strong>US sanctions: <\/strong>The sanctions by the US are most difficult to overcome.<\/li>\n<li><strong>Chinese Tilt of Iran due to Delays:<\/strong> Due to slow pace of work, Iran was playing the China card and started part of the project on itself.<\/li>\n<li><strong>Decreasing Imports and Exports:<\/strong> The exports and imports have significantly redcued between India and Iran.<\/li>\n<\/ul>\n<p><strong>Way Ahead<\/strong><\/p>\n<ul>\n<li>A <strong>separate arrangement for currency exchange<\/strong> between the two nations.<\/li>\n<li>India has to <strong>reduce its red tapism<\/strong> to fasten execution of Chabahar port.<\/li>\n<\/ul>\n<p><strong>Source:<\/strong> <a href=\"https:\/\/www.thehindu.com\/todays-paper\/tp-national\/india-wants-chabahar-on-key-route\/article33993180.ece\" target=\"_blank\" rel=\"noopener\">TH<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In News: India wants Chabahar port to be included in the 13-nation International North South Transport Corridor that extends from India to Russia and expand INSTC membership by including Afghanistan and Uzbekistan International North South Trade Corridor (INSTC) It is a 7,200-km-long multi-mode network of ship, rail, and road route for moving freight between India, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14237,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-14236","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs"],"acf":[],"jetpack_featured_media_url":"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2023\/07\/3124560current-affairs (1).jpg","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/14236","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=14236"}],"version-history":[{"count":0,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/14236\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media\/14237"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=14236"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=14236"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=14236"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}