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The Cabinet on Wednesday has approved a proposal to accede to the Ashgabat Agreement, a move that will further strengthen trade ties between India and the Eurasian region.
The decision paves the way for an international transport and transit corridor facilitating transportation of goods between Central Asia and the Persian Gulf.
“The Cabinet, chaired by Prime Minister Narendra Modi, has given its approval for India to accede to the Ashgabat Agreement,” said Ravi Shankar Prasad, Minister of Communications and IT.
Oman, Iran, Turkmenistan and Uzbekistan are the founding members of the Ashgabat Agreement, and Kazakhstan joined it subsequently.
The decision is a big step towards enabling India to utilise the existing transport and transit corridor to facilitate trade and commercial interaction with the Eurasian region, Prasad said. Further, this would synchronise with India’s efforts to implement the International North South Transport Corridor (INSTC) for enhanced connectivity, he added.
India’s intention to accede to the Ashgabat Agreement would now be conveyed to Turkmenistan, which is the Depository State. India would become party to the Agreement after the consent of the founding members.
GSAT-11 launch Meanwhile, the Cabinet also has decided procurement of launch services and realisation of ground segment for GSAT-11 spacecraft at a cost of ₹1,117 crore. The satellite will be ready for launch by the end of this year, Prasad told reporters while briefing the Cabinet decisions.
GSAT-11 is a communication satellite with 32 high-power spot beams for providing high bandwidth VSAT communication and is currently under development at DOS/ISRO facilities.
The satellite’s launch will lead to better connectivity in rural areas and hilly regions where broadband connectivity is difficult, he said.
U-17 World Cup The Cabinet approved the hosting of the ‘Under-17’ Football World Cup next year by authorising the Sports Ministry to constitute an organising committee for smooth conduct of the event, while giving its stamp of approval to the changes suggested by FIFA’s inspection team.
“Expenditure towards overlays and equipment including display boards may be incurred. The total cost, however, will be within ₹95 crore as approved earlier,” a government statement said.
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