The Islamic Republic of Iran Shipping Line Group (IRISL Group) announced it has launched offices in different parts of India to help a multimodal transit of goods in the strategically important International North-South Transit Corridor (INSTC).
IRISL intends to carry Indian commodities from western Indian ports to southern ports of Iran. They will then be transshipped to Russia and CIS countries.
Besides opening offices in India, the national Iranian maritime carrier also has regular activity in the Russian market so as to further facilitate the transfer of goods via North-South Corridor.
The INSTC corridor is the best alternative to a standard corridor from India to Russia as the standard corridor runs some 40 to 50 days between the two countries while it will only take 20 to 25 days for Indian commodities to reach Russia via INSTC corridor.
IRISL Group plans to cut the transit time between India and Russia to as few as 15 days.
The Iranian carrier began its first pilot transfer of goods from Russia to India through the International North-South Transit Corridor in mid-June.