business world India has achieved great success. India has got Iran’s Chabahar port operational. India will run this port for the next 10 years. This is the first time that India will take over the management of a port located abroad. Chabahar port is located in Sistan-Baluchistan province on the southern coast of Iran. India and Iran are jointly developing this port.
Information given through ‘X’
The Indian Embassy in Iran gave this information in a post on the social media platform ‘X’. The contract was signed by India Ports Global Limited and Iran’s Ports and Maritime Organization in the presence of Ports, Shipping and Waterways Minister Sarbananda Sonowal. Speaking on the occasion, Sonowal said, “With the signing of this contract, we have laid the foundation for India’s long-term engagement in Chabahar. This contract will have a multiplier effect on the viability and visibility of the Chabahar port.”
Sonowal said that Chabahar is not only the nearest Iranian port to India but is also an excellent port from the point of view of maritime transportation. He also held a meeting with the Ports Minister of Iran. India is emphasizing on the Chabahar port project to increase regional trade, especially connectivity with Afghanistan. The port has been projected as a key hub of the ‘International North-South Transport Corridor’ (INSTC) project.
Rs 100 crore allocated
The INSTC project is a 7,200 km long multi-layered transport project to transport goods between India, Iran, Afghanistan, Armenia, Azerbaijan, Russia, Central Asia and Europe. Underlining India’s importance on connectivity projects with Iran, the Ministry of External Affairs (MEA) had allocated Rs 100 crore for Chabahar Port for 2024-25.
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