India-Russia-Iran Transport Corridor Back in Focus

     Ahead of Indian Prime Minister Narendra Modi's five-Central Asian republic tour next month, the International North-South Transport Corridor (INSTC) agreement has come back under focus. The agreement on the transport corridor was inked more than ten years ago with the aim of establishing better connections to the Eurasian region through Iran, the

Business Standard reports.

     The signatories to INSTC had met earlier in June, where they reviewed the status of the report on a dry run between India, Iran and Russia via the Caspian Sea, while a follow-up meeting has been slated for July.

     The transport corridor is expected to greatly diminish cargo transport time between India, the Central Asian region and Russia. It will transverse Nhava Sheva (Mumbai) through Bandar Abbas (Iran) to Astrakhan (Russia) and Baku (Azerbaijan).

     Due to Tuesday's deadline for the signing of Iran?s nuclear agreement with the P5+1 Group of nations, the United States has cautioned India to avoid doing business with Iran until the nuclear deal is completed, according to a source close to the matter.

     Source: http://www.silkroadreporters.com/

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