India working towards unlocking trade potential with Central Asia

This was conveyed by Union Minister of Ports, Shipping & Waterways (MoPSW) and Ayush, Sarbananda Sonowal to a high level diplomatic delegation from Central Asian Countries in Mumbai on the occasion of Chabahar day which was on July 31.

The Union Minister was interacting with the delegation as the day is celebrated to mark the beginning of International North-South Transport Corridor (INSTC) - an Indian vision to economies movement of cargo between India and Central Asia.

The Chabahar Port located in Iran is the commercial transit centre for the region and especially Central Asia.

Speaking at the event, the Union Minister Sarbananda Sonowal said under the visionary leadership of Prime Minister Narendra Modi, India is working towards developing an alternative vista with the Central Asian region in order to unlock the huge trade potential that belies this strong relationship India enjoys with the Central Asian countries.

"The idea of INSTC via the vibrant Shahid Beheshti Port at Chabahar in Iran is an idea to connect the two markets using a multi modal logistical corridor. This will rationalise our logistics cost which will contribute towards the trade volume between the two region.

He said the Chabahar Free Trade Zone is an opportunity for the logistics companies to reap allowing the trade to bloom. Once we start exploring this route for trade, we will be able to rationalise our logistical cost, in terms of money and time, helping build an economical, faster, & shorter route between the two regions.

Somowal requested all of them make your business community aware about the opportunity and potential that this route may unlock.

During the event, the delegates from the Central Asian countries highlighted how Chabahar link with INSTC can play a vital role in boosting EXIM trade in their regions and its potential to further boost development in the landlocked countries. During the day-long event, several presentations & Govt to business sessions took place.