India has been admitted to Agreement on the Establishment of an International Transport and Transit Corridor between the Governments of the Islamic Republic of Iran, the Sultanate of Oman, Turkmenistan and the Republic of Uzbekistan signed on 25 April 2011 (Ashgabat Agreement).
In a statement, the government of India said:
Turkmenistan, as depository State of Ashgabat Agreement, informed India today that all the four founding members have consented to the Accession of India and that India’s accession to the Agreement will enter into force on 3 February 2018.
So why is this agreement so important?
Ashgabat Agreement envisages facilitation of transit and transportation of goods between Central Asia and the Persian Gulf. Accession to the Agreement would diversify India’s connectivity options with Central Asia and have a positive influence on India’s trade and commercial ties with the region.
Meanwhile, upon receipt of approval of the Union Cabinet for India’s accession to the Ashgabat Agreement, India had deposited the Instrument of Accession with Turkmenistan in April 2016.