New Services on International North South Transport Corridor
05, Feb 2019
Prelims level : International Relations Mains level : Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests.
- Container Corporation of India Ltd. (Concor), a major railway container operator in India and JSC RZD Logistics, the biggest multi-modal logistics operator over the region of the CIS and Baltic countries, signed a Memorandum of Understanding
- The Memorandum purports to exploring opportunities of developing joint logistical projects both in India and in Russia using international transport corridors, to include, in particular, the International North South Transport Corridor.
- INSTC is the shortest multimodal transportation route linking the Indian Ocean and the Persian Gulf via Iran to Russia and Europe.
- India could take benefit of this route. Cargo from India can be taken to the Iranian port of Bandar Abbas, and from there to Bandar-e Anzali on the Caspian Sea by land. The goods can then be shipped to the Russian port of Astrakhan and from there to therest of Europe by rail.