INSTCInternational North-South Transport Corridor (proposed transport project, GUAM Community)
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The two countries can politically address the differences in the project," a senior Iranian official told ET as he pointed out that the Chabahar port is suitably located to serve India's outreach in the region to Afghanistan and beyond as well as link with INSTC to which Delhi is one of the initial signatories.
The issue of Zahedan-Chabahar rail link as part of INSTC was also deliberated when the first meeting of this key transport corridor, post Iranian nuclear deal, was held in New Delhi last week.
Officials from Russia and Iran, also original signatories of INSTC, as well as proposed entrants for the transport corridor Turkmenistan, Azerbaijan and few other Central Asian nations participated at the meeting that discussed customs and insurance matters among other issues at the Delhi meet.
INSTC opens up a sea of opportunities for India and Narendra Modi pushed the idea during his July visit to Central Asia with an eye on realising untapped economic partnership with the Eurasian region, including Russia and Central Asia.
Iran, it was stated, welcomes Investment in improving INSTC and the Shahid Razzai Port at Bandar Abbas.