Long wait for a shorter trade route to Russia ends

Iran-Azerbaijan-Russia corridor promises to cut down 44% of logistics cost, halve travel time

Subhayan Chakraborty  |  New Delhi 

India will on April 13 showcase a shorter trade route to the Commonwealth of Independent States (CIS) to mark the 70th anniversary of diplomatic and trade ties between India and Russia, but the corridor has found few takers as of now due to lack of awareness, threat of US sanctions against Iran and difficulties over procedural issues.  The marketing of the route next month may evoke interest from traders; albeit it may still take four-six months to get traffic.  The International North-South Transport Corridor is being dubbed as India’s biggest bet in Central ...

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Long wait for a shorter trade route to Russia ends

Iran-Azerbaijan-Russia corridor promises to cut down 44% of logistics cost, halve travel time

After being dubbed as India's biggest bet in Central Asia and Russia, a new trade corridor aimed at improving India's reach in the region is struggling to find takers.The ambitious International North South Transport Corridor (INSTC) aims to slash by half the time taken by trade shipments to reach Russia and nations part of the Commonwealth of Independent States (CIS) as well as massively reduce logistics costs. Come April 13th and India will be sending a series of containerized exports to Russia to mark the 70th year of diplomatic and trade ties between the two countries through the new route.However, even more than six months after all components of the planned trade route has been put into place and almost three years after the first successful dry run was completed, the route is struggling to find takers among traders."The average time taken is expected to be brought down from the current 35-40 days to 20-22 days while logistics costs will go down by 44 per cent but the lack of ... India will on April 13 showcase a shorter trade route to the Commonwealth of Independent States (CIS) to mark the 70th anniversary of diplomatic and trade ties between India and Russia, but the corridor has found few takers as of now due to lack of awareness, threat of US sanctions against Iran and difficulties over procedural issues.  The marketing of the route next month may evoke interest from traders; albeit it may still take four-six months to get traffic.  The International North-South Transport Corridor is being dubbed as India’s biggest bet in Central ... image
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