Soon, goods can be moved between India and Russia via Iran: Concor

Soon, goods can be moved between India and Russia via Iran: Concor

Soon, goods can be moved between India and Russia via Iran: Concor

During President Donald Trump’s visit, the show of affection between India and the US did not prevent India from taking a step forward in using transportation infrastructure to connect with Russia much faster through Iran, a country at the forefront of US sanctions.

According to Container Corporation of India (Concor) CMD V Kalyana Rama, traders from India and Russia can move goods between the two countries through Iran within three months.

This follows a service agreement between Concor and RZD Logistics JSC (a subsidiary of Russian Railways) to use a single invoice to transport cargo between India and Russia.

Cutting down on time

The move would help Indian-Russian exporters and importers by reducing transit time and transportation costs compared to existing transportation via Suez Canal. The new route would cut the time of movement of goods dramatically (to 25-28 days from about 40 days) as it eliminates the existing sea route through the Suez Canal and will also result in significant cost savings.

src: thehindubusinessline.com

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