For easy access to Afghanistan & Europe, India is investing $500 million on the Chabahar port in Iran

India is investing $500 million on the Chabahar port in Iran

In order to expand the strategically positioned Chabahar port in Iran, India would invest $500 million. This will give New Delhi quick access to Afghanistan and Europe while avoiding Pakistan. On Monday, while Prime Minister Narendra Modi was in the oil-rich nation, India and Iran signed a historic pact.

A brief about For easy access to Afghanistan & Europe, India is investing $500 million on the Chabahar port in Iran:

It was a tactical choice to build the port in the south since it will oppose China’s expanding influence there. The Gwadar port in Pakistan, which is a part of China’s $46 billion plan to create the China-Pakistan Economic Corridor and is intended to establish new trade and transport lines throughout Asia, is only 72 km from Chabahar port.

India, Afghanistan, and Iran recently signed a trilateral deal on a transportation and transit corridor, which Prime Minister Narendra Modi claimed might change the region’s history.

The various agreements aimed at strengthening India-Iran ties in various fields encompassed areas of the economy, trade, transportation, port development, culture, science, and academic cooperation, as Modi became the first Indian prime minister to visit Iran in 15 years.

Chabahar port, outside the Persian Gulf and easily accessible from India’s western coast without entering Pakistan, is situated in the Sistan-Balochistan Province on the southern shore of the energy-rich Persian Gulf nation.

“The region’s economy would grow as a result of this significant endeavour. We are determined to move quickly to execute the agreements we reached today “Added Modi. Following thorough conversations between Modi and President Hassan Rouhani, India and Iran inked many bilateral agreements, including one on the construction of an aluminium plant and another on the construction of a railway line to offer India access to Afghanistan and Central Asia.

The deals follow the landmark nuclear agreement between Tehran and the Western powers over its disputed atomic programme, which led to the removal of international sanctions on Iran months later.

Later, in the presence of Modi, Rouhani, and Afghan President Ashraf Ghani, the trilateral agreement pertaining to the development of the Chabahar port was signed by India, Iran, and Afghanistan.

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