International North-South Transport Corridor is a corridor to increase trade between India and Russia. This trade route is 7200 Km long and the transport of freight is through a multi-mode network of Road, Ship, and Railways. This route connects India and Russia through Iran and Azerbaijan.
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What is the objective of the International North-South Transport Corridor (INSTC)?
The earlier trade route connecting India and Russia was through the Suez Canal. Hence the major objective of the INSTC corridor was to reduce the time taken, costs incurred, and increase connectivity between major cities like Mumbai, Moscow, Astrakhan(located in Russia), Baku (Azerbaijan), Tehran, Bandar Abbas and Bandar Anzail (All located in Iran).
Which are the founding member states of INSTC and when was the agreement signed?
Russia, India, and Iran are the founding member states of INSTC. The agreement was signed in 2002.
Which are the member states of the International North-South Transport Corridor?
There are 13 member states of the INSTC project. The list of member states is given below.
Bulgaria is the Observer State.
The above details would help candidates preparing for UPSC 2020.