01/08/2022 - International Relations

KEY POINTS

·        International North South Transport Corridor (INSTC), a 7,200-km multi-modal transport corridor that combines road, rail and maritime routes connecting Russia and India via central Asia and Iran.

·        The INSTC’s launch provides missing pieces of the puzzle about India’s refusal to condemn Russia’s invasion of Ukraine.

·        India’s investment in the INSTC is exemplified by its involvement in Iran’s Chabahar port and the construction of a 500-km Chabahar-Zahedan railway line.

·        The India Ports Global Limited, a joint venture between the Jawaharlal Nehru Port Trust and Kandla Port Trust, will develop the port along with Iran’s Aria Banader.

·        IRCON International will contribute to constructing the railway line. A special economic zone around Chabahar will offer Indian companies the opportunity to set up a range of industries.

·        INSTC can shape a north-south transport corridor that can complement the east-west axis of the China-led Belt and Road Initiative (BRI).

·        The INSTC offers a platform for India to closely collaborate with Russia, Iran and Central Asian republics.

·        The INSTC has received far less media attention than initiatives such as the Quad, the BRI and the New Development Bank.

·        However, as a transcontinental multi-modal corridor that aims to bring Eurasia closer together, the INSTC is a laudable initiative in its own right.

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