India for fast-tracking transport corridor to boost trade with Azerbaijan

Discussion in 'Economy & Infrastructure' started by Vishwarupa, Apr 18, 2012.

  1. Vishwarupa

    Vishwarupa Senior Member Senior Member

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    NEW DELHI, APRIL 17:
    India wants to fast-track the setting up of an International North-South Transport Corridor (INSTC) to improve connectivity with Azerbaijan. The transport corridor will also help save time and transportation costs.

    [The INSTC member countries include India, Iran, Russia, Azerbaijan, Armenia, Kazakhstan, Kyrgyztan, Tajikistan, Turkey, Ukraine, Belarus, Oman, Syria and Bulgaria (observer).]

    During a meeting in Baku with Mr Huseyngulu Baghirov, Minister of Ecology and Natural Resources of Azerbaijan, Mr Jyotiraditya M. Scindia, Minister of State for Commerce and Industry, called for identifying the impediments that block the smooth functioning of the transport corridor, an official statement said on Tuesday.

    OIL & GAS

    Meanwhile, India also expressed keenness to participate in the exploration and development of oil and gas fields in Azerbaijan. India also sought to use the Baku–Tbilisi–Ceyhan (BTC) pipeline for evacuation of oil to meet India’s energy security needs.

    During the bilateral meeting, Mr Scindia identified petroleum, IT, food processing and pharmaceuticals as the sectors with the maximum potential for trade and investment with Azerbaijan.

    The Minister also called for an early finalisation of a Bilateral Investment Promotion and Protection Agreement and the Double Taxation Avoidance Agreement between the two countries to encourage investment flows and elevate investor’s confidence.

    At the bilateral meeting, a protocol was inked identifying pharmaceuticals, energy, transport, agriculture and IT sectors as the key areas of cooperation. It also suggested steps to overcome the existing barriers.
     
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  3. Mad Indian

    Mad Indian Proud Bigot Veteran Member Senior Member

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    Nice move. good going India:thumb:.


    It wil provide an excellent boost to our energy security and increase the business opportunities for us:devious:
     
  4. Virendra

    Virendra Moderator Moderator

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    How is India going to benefit? I mean there can't be a direct link for us.
    Do we get to use the corridor via Iran?
     
  5. amoy

    amoy Senior Member Senior Member

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    Isn't there a separate thread on such a south-north railway? Then India is exposed to vulnerability through Iran's gateway? What if Iran is sanctioned to the extent of total blockade? or even attacked by Israel or US?
     
  6. cir

    cir Senior Member Senior Member

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    Corridor to Azerbaijian?

    I will refrain from calling it a pipe dream, but it is a plan on paper at best。
     

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