As per the recommendations of the 5th Coordination Council meeting of the International North -South Transport Corridor (INSTC) held in Baku, Azerbaijan in 2013, a dry-run of the INSTC was successfully conducted by the Federation of Freight Forwarders of India (FFFAI) in 2014 on the routes; (i) Nhava Sheva(Mumbai) - Bandar Abbas(Iran)-Tehran-Bandar Anzali(Iran)-Astrakhan(Russia); and (ii) Nhava Sheva(Mumba)-Bandar Abbas(Iran)-Baku(Azerbaijan). The objective of dry run study was to identify the bottleneck/missing links in the INSTC route.
Some of the deficiencies identified by the dry run are irregular shipping services from India to Iran, lack of insurance coverage for Bill of Lading, Non Vessel Owner Container Carrier (NVOCC) required etc.
Since INSTC Agreement is a multilateral agreement, the measures to rectify these deficiencies and tentative timeframe decided for operationalizing the INSTC require discussion with the concerned stakeholders.
This information was given by the Minister of State (Independent Charge) in the Ministry of Commerce & Industry Smt. Nirmala Sitharaman in a written reply in Lok Sabha today.
Some of the deficiencies identified by the dry run are irregular shipping services from India to Iran, lack of insurance coverage for Bill of Lading, Non Vessel Owner Container Carrier (NVOCC) required etc.
Since INSTC Agreement is a multilateral agreement, the measures to rectify these deficiencies and tentative timeframe decided for operationalizing the INSTC require discussion with the concerned stakeholders.
This information was given by the Minister of State (Independent Charge) in the Ministry of Commerce & Industry Smt. Nirmala Sitharaman in a written reply in Lok Sabha today.
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