Federation of Freight Forwarders’ Associations in
India (FFFAI), in association with Department of Commerce, Ministry of Commerce
and Industry, Govt. of India and Maritime Nation India is organising an
interactive business session to popularise the International North South
Transport Corridor (INSTC) Route among the potential stakeholders in an attempt
to promote the strategic route. The INSTC Conference will be held on
September 16, 2017 at International Exhibition Centre, Vashi, Navi Mumbai from
2:00 pm to 03:30 pm.
FFFAI is also organising Trade
Facilitation Conference (TFC) on September 16, 2017 from 3:30 pm to 05:00 pm at
the same venue.
There is no participation fee for
Member of FFFAI but as prior registration is
mandatory FFFAI requests all participants to fill up the registration
form and forward to FFFAI Secretariat latest by September 9, 2017.
Earlier, FFFAI had
carried a dry run study and organised three International Conferences
on INSTC to popularise and promote this route which is an unexplored
potential market for Exporters and Importers in India. “Looking forward we
would like to seek more participation from trade and stakeholders
on INSTC Route to reach RUSSIA/ CIS countries via Iran with
competitive price and lesser time with the development taken place in shipping
goods and infrastructure,” said Mr Shankar Shinde, Vice
Chairman, FFFAI who is spearheading the INSTC project from
the Federation. He also maintained that Indian freight forwarders and logistics
companies can substantially benefit from operating on INSTC Route
thanks to cost competitiveness.
Minister Narendra Modi visited to Russia on June 1, just 15 days
after China’s Belt and Road Initiative (BRI) Forum, which India did not
participate in. It holds immense significance for the International North-South
Trade Corridor (INSTC), which would connect India, Iran and Russia through
Central Asia. According to the Prime Minister, 70 years of diplomatic
relations between India and Russia have been marked by a high degree of
convergence on various bilateral and global matters. He emphasised on the
role of the private sector in enhancing trade and commercial ties between the
two countries, adding that India and Russia are close to achieving the target
of 30 billion US dollars worth of investment by 2025. Speaking on
the theme of connectivity, the Prime Minister focused on cooperation between
the two countries in the International North South Transport Corridor.
It should also be noted that three days
after the BRI Forum, various stakeholders from the diplomatic, civil
society, and business communities came together for
an INSTC Conference at India’s Foreign Service Institute in New
Delhi. At the conference, the main issues were finalisation of the INSTC Routes
and the development and optimal utilisation of the Chabahar port in
Iran to complement INSTC.
Mr Shinde attended “1520
Strategic Partnershi-2017”, the 12th International
Business Forum held from June 6 to 8, at Sochi in Russia. The Forum
also emphasised on international connectivity to enhance trade and commerce,
for a close and strong bilateral relationship among partner countries.