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India seeks to unlock trade potential with Central Asian through Chabahar Port: Shipping Minister

India seeks to unlock trade potential with Central Asian through Chabahar Port: Shipping Minister

India is working towards unlocking trade potential with Central Asia through the Chabahar Port in Iran according to Shipping Minister Sarbananda Sonowal. He was interacting with a high-level diplomatic delegation from Central Asian Countries on the occasion of Chabahar day on Sunday.

This 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.

Speaking at an event to mark the same, Sonowal said, “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.”

An official statement said that the idea of INSTC through the Shahid Beheshti Port at Chabahar in Iran is an idea to connect the two markets using a multi modal logistical corridor. It is expected that this will rationalise our logistics cost which will contribute towards the trade volume between the two regions.

According to Sonowal, the Chabahar Free Trade Zone is an opportunity for the logistics companies. “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,” he said.

In addition to India, the session was attended by representatives from Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan, Afghanistan, and Iran.

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