Giving a boost to economic partnership in the post-sanctions era, India signed a ‘milestone’ pact with Iran to develop strategic Chabahar port in southern coast of Iran that will give India easy access to landlocked Afghanistan and Europe, bypassing its archrival Pakistan. It was the most significant of the 12 agreements the two countries signed during Indian Prime Minister Modi’s two-day visit. India and Iran also agreed to cooperate on combating radicalism and terror.
India committed around $500 million for the important Chabahar port, which will serve as a ‘point of connectivity’ between India, Afghanistan, Commonwealth of Independent States (CIS) countries and East Europe. The trilateral agreement on Transport and Transit Corridor, linked to the Chabahar port development, was signed by India, Iran and Afghanistan in the presence of Modi, Rouhani and Afghan President Ashraf Ghani.