Correct Answer : Iran
India has signed a 10-year agreement to develop and operate Iran’s strategic Chabahar Port to strengthen trade ties with Central Asia and Afghanistan, bypassing Pakistan. However, this deal faces potential US sanctions, complicating New Delhi’s strategic objectives.
Strategic Importance of Chabahar Port :
The
Chabahar Port, located in southeastern Iran’s Sistan-Baluchestan province, is crucial for India’s trade ambitions. By operating a terminal in the Shahid Beheshti section, India aims to establish a direct trade route to Afghanistan and Central Asia, circumventing its rival Pakistan. Indian Shipping Minister Sarbananda Sonowal highlighted the port’s role as a vital trade artery for India.
Details of the Agreement :
India Port Global Limited (IPGL) and Iran’s
Ports and Maritime Organization (PMO) signed the deal, committing India to invest
$120 million into the port’s terminal over ten years, with an additional
$250 million loan facility, bringing the total contract value to
$370 million. This agreement, revived post-2015 Iran nuclear deal sanctions relief, aims to solidify the infrastructure and operational capabilities of the port.
