INSTC meaning in International ?

Answer:

What is International North–South Transport Corridor mean?

The International North–South Transport Corridor (INSTC) is a 7,200-km-long multi-mode network of ship, rail, and road route for moving freight between India, Iran, Afghanistan, Azerbaijan, Russia, Central Asia and Europe. The route primarily involves moving freight from India, Iran, Azerbaijan and Russia via ship, rail and road. The objective of the corridor is to increase trade connectivity between major cities such as Mumbai, Moscow, Tehran, Baku, Bandar Abbas, Astrakhan, Bandar Anzali, etc. Dry runs of two routes were conducted in 2014, the first was Mumbai to Baku via Bandar Abbas and the second was Mumbai to Astrakhan via Bandar Abbas, Tehran and Bandar Anzali. The objective of the study was to identify and address key bottlenecks. The results showed transport costs were reduced by "$2,500 per 15 tons of cargo". Other routes under consideration include via Kazakhstan and Turkmenistan.

This will also synchronize with the Ashgabat agreement, a Multimodal transport agreement signed by India (2018), Oman (2011), Iran (2011), Turkmenistan (2011), Uzbekistan (2011) and Kazakhstan (2015) Pakistan (2016) (figure in the bracket indicates the year of joining the agreement), for creating an international transport and transit corridor facilitating transportation of goods between Central Asia and the Persian Gulf. This route will be operationalised by mid-January 2018.

reference

Full Form	Category
International North–South Transport Corridor	International
Industrialized Nations Strive To Compete	Messaging