INSTC Explained: India-Iran-Russia Corridor and Chabahar
Why in the news
With Israel-Iran tensions rising, India is assessing the threat to two strategic investments: Chabahar and the INSTC.
Key facts
- Length: 7,200 km of sea, rail and road links, with Mumbai and Moscow among the trade hubs joined.
- Origin: India, Iran and Russia signed it on 16 May 2002; more Eurasian economies joined later.
- Savings: FFFAI puts the route at 30% cheaper and 40% shorter than traditional options.
- Ashgabat Agreement: a multilateral transit pact that INSTC aligns with.
| Ashgabat Agreement member | Year joined |
|---|---|
| Oman, Iran, Turkmenistan, Uzbekistan | 2011 |
| Kazakhstan | 2015 |
| India | 2018 |
INSTC membership
- Full members (13): Armenia, Azerbaijan, Belarus, India, Iran, Kazakhstan, Kyrgyzstan, Oman, Russia, Syria, Tajikistan, Turkey, Ukraine.
- Observer: Bulgaria.
- Turkmenistan is not a formal member but India has invited it.
Significance
- Cuts cost and time versus the Suez Canal sea route.
- Reaches Central Asia and Russia without relying on Suez.
- Offers an alternative to China’s Belt and Road Initiative.
- Boosts the Act East and Connect Central Asia approaches.
Exam angle
- Corridor length: 7,200 km.
- Associated port: Chabahar.
- India joined the Ashgabat Agreement in 2018.