INSTC Current Affairs - 2019

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India gets first TIR shipment via Chabahar Port from Afghanistan

The first shipment under the United Nations ‘Transports Internationaux Routiers’ (TIR) convention arrived in India from Afghanistan through Chabahar Port of Iran. What is Transports Internationaux Routiers’ Convention? The Transports Internationaux Routiers is an international Convention aimed at harmonising the administrative formalities of international road transport. The goods being moved through the TIR convention requires the Read More…

Month:  Categories: InternationalUPSC

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First phase of Chabahar port inaugurated in Iran

The first phase of Iran’s Chabahar port (Shahid Beheshti Port) which holds significant strategic and economic importance for India was inaugurated was Iran’s President Hassan Rouhani. It is Iran’s only oceanic port located on the Gulf of Oman, southeast of Iran near Pakistani border. It has been jointly developed by India, Iran and Afghanistan. The Read More…

Month:  Categories: InternationalPlaces in News

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India to accede to the Ashgabat Agreement on transit corridor

The Union Cabinet has given its approval for India to accede to the Ashgabat Agreement, an international transport and transit corridor. The agreement facilitates transportation of goods between Central Asia and the Persian Gulf.  India would become party to the Agreement upon consent of the founding members. Accession to the Agreement would enable India to Read More…

Month:  Categories: Governance & Politics

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India, Russia sign customs pact to boost trade

India and Russia have signed a customs and liberalize business visas agreement to boost trade between both countries to remove the hindrances and boost commerce. This pact will help to rapid clearances of imported goods at the land and sea ports and addresses the issues related to the non-tariff barriers. Both countries also have fixed Read More…

Month:  Categories: Business, Economy & Banking

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INSTC, India’s strategic gateway to Central Asia and Eurasia

The International North-South Transport Corridor (INSTC) is considered as gateway for India to expand trade and investment links with Central Asia and Eurasia. Its importance was highlighted in India’s Foreign Trade Policy of India 2015-20. However, recently it gained importance in light of the evolving geopolitical developments of India after Prime Minister Narendra Modi’s visit Read More…

Month:  Categories: Governance & PoliticsInternational

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