Iran have signed a crucial 10-year deal, strengthening India’s presence at the important Chabahar port.
This new agreement, which lasts for …
Iran have signed a crucial 10-year deal, strengthening India’s presence at the important Chabahar port.
This new agreement, which lasts for 10 years and can be extended further, was being discussed by both India and Iran for the past three years.
Both the nations signed a long-term agreement covering Indian operations at the Chabahar port, with New Delhi offering a credit window worth $250 million for the development of infrastructure
First let’s understand why is this port so important for India?
First of all Chabahar Port provides India with a direct sea-land access route to Afghanistan and Central Asia, bypassing Pakistan. This opens up opportunities for India to engage in trade and development projects in these regions, enhancing regional connectivity and influence.
Secondly India relies a lot on the Strait of Hormuz for trade with Central Asia and Afghanistan. But there are tensions in that area, which could cause problems. Chabahar Port gives India another way to trade with these places. This means if something happens in the Strait of Hormuz, India still has a way to trade safely. So, Chabahar Port helps India be more secure when trading by giving it more options.
Thirdly, Chabahar Port is an important part of the INSTC, which is like a big transportation network. It connects India to Russia, Central Asia, and Europe through Iran. When the INSTC is working fully, it could make it much cheaper and quicker for Indian goods to reach these markets. So, Chabahar Port helps India save money and time when trading with these places.
Just hours after India signed a 10-year agreement the United States issued a warning. They said there’s a chance of sanctions for anyone who does business with Tehran, which is in Iran.
US spokesperson said, We are aware of these reports that Iran and India have signed a deal concerning the Chabahar Port, I would let the government of India speak to its own foreign policy goals, vis-a-vis the Chabahar Port as well as its own bilateral relationship with Iran.
Now this statement has sparked rift in the thoughts, External Affairs Minister S Jaishankar emphasised that the project will benefit the entire region and people should not take a “narrow view” of it.
He also pointed out that the US itself had appreciated the larger relevance of Chabahar in the past.
he said, I did see some of the remarks which were made, but I think it’s a question of communicating, convincing and getting people to understand, that this is actually for everyone’s benefit. I don’t think people should take a narrow view of it.
India and the US share a strategic partnership aimed at promoting peace but like US is a little more concerned about India’s ties with Iran.
#chabaharport #iran #indiadotcom #chabahar
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