You are here: Home » PTI Stories » International » News
Business Standard

Indian team to visit Iran on upgradation of Chabahar port

Press Trust of India  |  Tehran 

India will soon send a delegation to Iran to discuss upgradation of the strategically important Chabahar port and the two sides will begin negotiations on a trilateral transit agreement to ship goods to the landlocked Afghanistan.

The two issues were part of discussions between Vice President Hamid Ansari and Iran's President Hassan Rouhani soon after his swearing-in ceremony yesterday here, senior officials told reporters.

India had held discussions with Iran on the Chabahar port during External Affairs Minister Salman Khurshid's visit here in May.

A delegation led by Director General, Shipping from India will soon go to Tehran to discuss the details of the project, they said.

The Government had given in-principal clearance for Indian participation in the project and negotiations will begin soon to work out cost and other issues along with the proposed transit agreement.

The transit agreement involves India, Iran and Afghanistan.

The upgradation process is expected to take two or more years, Khurshid had said.

Chabahar port is strategically crucial as it gives access route to Afghanistan. Chabahar port, which is surrounded by a free trade zone, is vital particularly since Pakistan does not allow transit facility from India to Afghanistan.

During the meeting with Rouhani, Ansari said India wants to work closely with its near neighbour.

India and Iran have long economic ties where oil is the biggest item of Indian import from Iran. But India feels there is a lot of scope for increasing Indian exports to the Persian country particularly in pharmaceuticals and food.

However, efforts to enhance trade have been facing hurdles because of sanctions imposed by the UN and European Union, which make payment difficult.

There are also problems like re-insurance of oil refineries and transportation of consignment from Iran because of the sanctions.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, August 05 2013. 15:10 IST
RECOMMENDED FOR YOU