TEHRAN- India will start export of container cargo to Russia via Iran from January 2018, S. Kumar, the commissioner of Indian Central Board of Excise and Customs (CBEC), announced. The official said this shipment will be done as India moves forward to operationalize international corridor INSTC, India Today reported. The move, he said, would cut down cargo […]
TEHRAN- India will start export of container cargo to Russia via Iran from January 2018, S. Kumar, the commissioner of Indian Central Board of Excise and Customs (CBEC), announced.
The official said this shipment will be done as India moves forward to operationalize international corridor INSTC, India Today reported.
The move, he said, would cut down cargo transport time by half to nearly 17 days, from the earlier 35 days, using just the sea route.
“India will shift its first export consignment via Bandar Abbas to Russia from mid-January. It will probably transit Iran, Azerbaijan and then reach Russia,” Kumar told reporters.
The Customs department has been receiving a lot of enquiries from different sectors for using this route, he said, adding that the route would help in saving money as well as time.
“This initiative will operationalize the INSTC,” Kumar said.
International North-South Transport Corridor (INSTC) is a multi-mode network of sea, rail, and road route for moving freight among India, Russia, Iran, Europe and Central Asia. The proposed 7,200-km long corridor is expected to increase trade connectivity among major cities of Mumbai, Moscow, Tehran, Baku, Bandar Abbas, Astrakhan and Bandar Anzali.
India also plans to send seven shipments of wheat to Afghanistan through Iran’s southeastern Chabahar Port by the end of January, Reuters has previously reported.
India launched a trade route to Afghanistan via Iran through shipping its first consignment of wheat to Afghanistan on October 29, bypassing longtime rival Pakistan.
