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 North-South 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 link 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 a 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. This meeting will provide us with a platform on how to put the Chabahar Port in the International North-South Transport Corridor."
He said India was looking forward to businesses and logistics companies utilising 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,” the minister added.
ZZ/PR