From: CUTS International
Roshan Iyer
Research Assistant
CUTS International
The Diplomat, June 10, 2017
India’s preferred alternative to China’s Belt and Road Initiative has seen progress in the past months.
From
June 1 to 3, 2017, Indian Prime Minister Narendra Modi made his third
trip to Russia, marking 70 years of India-Russia relations. One of the
highlights on the economic front was the joint address by Modi and
Russian President Vladmir Putin at the St Petersburg International
Economic Forum (SPIEF), popularly known as the Davos of Eurasia.
Modi’s
visit, just 15 days after China’s Belt and Road Initiative (BRI) Forum,
which India did not participate in, holds significance for the
International North-South Trade Corridor (INSTC), which would connect
India, Iran, and Russia through Central Asia. 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 finalization of the INSTC routes and the development
and optimal utilization of the Chabahar port in Iran to complement
INSTC.
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CUTSTradeForum for International Trade & Development news and views
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