INDIA: The proposed International North South Transport Corridor expected to be discussed during Prime Minister Narendra Modi’s ongoing five-nation tour to Central Asia will to give a major boost to India’s trade with the region, industry chamber FICCI said on Monday.
“The International North South Transport Corridor (INSTC), which may figure in the talks between the leaderships of the Central Asian countries and Indian officials, once fully operational, will address the issue of poor connectivity and high transport costs to a large extent,” the Federation of Indian Chambers of Commerce and Industry said in a statement here.
A high-powered FICCI delegation, representing sectors such as construction, pharmaceuticals, mining, banking, power transmission and IT, is accompanying the prime minister on his visit to Kazakhstan on July 7 and 8, it said.
“Top Indian companies such as Essar Group, GMR, BHEL, NASSCOM, Punjab National Bank, Lupin, Punj Llyod and SUN Group are being represented in the business delegation,” it added.
