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Russia aims to progress on INSTC with India

Sokolov hopes New Delhi will use Russian expertise

Russia wants to take forward the development of the International North-South Trade Corridor comprising (INSTC), road, rail, shipping and air links from India, Iran and Caspian Sea states.

Giving an update on INSTC, Russian Transport Minister Maksim Sokolov sees India and Russia leading in the development of the corridor, the importance of which will match any other international trade corridor including China’s Belt and Road Initiative.

INSTC will be part of a broader discussions when Economic Development Minister Maxim Oreshkin leads a delegation to India later this month.

“We would like to discuss infrastruture developmnt in the corridor (INSTC),” told the Press Trust of India on 5 Feb 2018 at Singapore Airshow Aviation Leadership Summit being held 5-6.

Responding to questions on American Lockheed Martin’s plans to set up F-35 jet manufacturint plant in India, he said the talks would also cover upgrade of Russian jet technlogy.

India produces Sukhoi jets based on Russian technology.

The minister also expressed hope of Russian participation in the ongoing Indian infrastructure development, including airports and ports.

Sokolov said he was the pioneer in developing Public Private Partnership (PPP) contract model backed by private investments which is widely used in building airports in Russia.

Russia has used the PPP model for airports for more than 10 years, first for the Pulkovo airport in St. Petersburg.

“We can bring in (Russian) investments and (PPP) experiences” to India, he said, urging New Delhi to consider incorporating Russian experiences in civil aviation.

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