India, Iran, Russia to discuss establishing North-South Transport Corridor
Today, officials from India, Iran and Russia will meet in India to continue negotiating the International North-South Transport Corridor (INSTC)—an infrastructure project that provides more efficient transportation from Europe to the Indian Ocean.
When completed as early as next year, the 7200 kilometre corridor will connect major Eurasian cities—like Mumbai, Moscow, Tehran and Baku—by ship, rail and road. Estimates suggest the new route will cut the time and cost of transporting goods by about 30-40%.
The ambitious project’s success depends on how well its major benefactors—Iran, India and Russia—are able to cooperate with the other countries the INSTC will pass through by land: Afghanistan, Armenia, Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan. Currently, Iran and Turkmenistan are spatting over unpaid Iranian dues for natural gas imports from the Central Asian country. While similar, minor disputes likely will not completely derail the project, they will certainly delay its completion if left to fester.
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