India to Sign Long-Term Agreement with Iran for Chabahar Port Development in 2024

India and Iran will sign a Chabahar Treaty after the 2024 elections
A high-level Indian delegation, led by the Shipping Minister, is set to visit Iran after India's general elections in the latter half of 2024. This visit will facilitate the signing of a contract to fully utilize the strategically vital Chabahar Port, developed with Indian aid, confirming a positive and lucrative agreement between both countries.
Share it now

India’s Shipping Minister will lead a delegation set to visit Iran after the general elections in 2024 to sign a contract enabling full use of the strategically important Chabahar port, developed with Indian assistance. The Iranian embassy in New Delhi confirmed the upcoming visit and praised the agreement as mutually beneficial, with plans to accelerate port development.

India’s interest in Chabahar dates back to 2003 when assistance for infrastructure development was agreed upon. Progress was slow due to Western sanctions on Iran, but in recent years, shorter contracts have been signed. The planned long-term 10-year deal will signal a new phase of development for the port, paving the way for increased connectivity to Central Asian markets.

The Chabahar Port not only acts as a strategic gateway for Indian goods but also holds revenue-generating potential. Plans for expansion to 18 million tonnes, enhancing connectivity with the Caspian Sea, Russia, and Northern Europe are in place. India aims to strengthen its presence along the North-South Transport Corridor, with the port’s operations already proving profitable and further growth expected once connected to the rail network.

Source .

 

Share it now