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Iran asks India to invest in Chabahar port

in Afghan Business

Iran asks India to invest in Chabahar port

Iranian President Hassan Rouhani has asked India to invest in Chabahar port, a strategic port that will open up access to Central Asia for India.

This comes after Iran and six world powers reached a nuclear deal on Tuesday, clearing the way for an easing of sanctions on Tehran.

The Chabahar port deal was agreed upon in 2003 between India and Iran; however, due to wall of sanctions and American pressure, the venture moved slowly.

“The port of Chabahar in southeast Iran is central to India’s efforts to circumvent arch-rival Pakistan and open up a route to landlocked Afghanistan where it has developed close security ties and economic interests. Rouhani suggested the larger role for India during a meeting with Prime Minister Narendra Modi on the sidelines of a summit in Russia days before the historic nuclear deal between Iran and world powers,” India Today quotes Iran’s ambassador to India, Gholam Reza Ansari.

According to the source, Iran has offered India in connectivity USD 8bn of projects in a bid to fulfill India’s policy of “connectivity” which coincides with Iran’s government policy.

“India has moved slowly on opportunities in Iran in the past, including the giant Farzad B gas field,” Ansari added. Ansari said India was the “first priority to develop Farzad B” but urged New Delhi to move fast. “If they drag their feet, the market will not wait,” Ansari said

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