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India, Iran signs historic Chabahar port pact

India and Iran are planning to develop Chabahar port in southeast Iran, expanding a trade route to central Asia bypassing Pakistan.

By :  naren pulloor
Update: 2016-05-23 05:12 GMT
Lifting of international sanctions on Iran has opened up immense opportunities and India is looking to expand cooperation with the Persian Gulf nation in sectors such as trade, investment, infrastructure and energy, Narendra Modi said. Modi arrived in Tehran on Sunday night for a 2- day visit.
India and Iran have also agreed to enhance interaction between their defence and security institutions on regional and maritime security, said Modi.
Reminiscing with gratitude that Iran was the first country that came forward to help when Gujarat was struck by earthquake in 2001, Modi said that India was proud to have stood by Iran during its difficult times.
Emphasising that India and Iran were not new friends, Modi said that our 'dosti' is as old as history. Our society is connected through ideas, arts, culture and tradition. As friends and neighbours, we have shared interest in each other's growth and prosperity, and joys and sorrows.
Several agreements of economic and strategic importance and Memorandum of Understanding (MoU) on a series of projects are expected to be signed between both sides. Modi and Rouhani will later jointly address the press, highlighting the developments. (Photo: Twitter)
Narendra Modi met Rouhani on Monday for formal talks during which a range of issues were discussed. (Photo: Twitter)
Narendra Modi arrives at Mehrabad airport in Tehran on Sunday.
Modi is welcomed by an Iranian child wearing traditional dress at Mehrabad airport in Tehran.
Tehran has been seeking to reintegrate into the global economic system following a landmark deal with world powers that lifted sanctions in return for limiting its nuclear program.
Elaborating on the agenda for his meetings with top Iranian leadership, Modi said that Iran is part of our extended neighbourhood, an important country in the region and one of the India's valuable partners. We are connected with each other by the shared history and civilisational ties.
Narendra Modi interacts with K V School students at hotel lobby in Tehran
India is also looking to import more oil from Iran and develop a gas field there. In 2012 Iran was India's second-largest crude supplier but oil exports subsequently fell.
Stating that the Indian public and private sector firms were keen on investing in Iran, Modi said the signing of agreement on development of Chabahar port will provide wider connectivity.
Narendra Modi pays obeisance at Bhai Ganga Singh Sabha Gurudwara in Tehran during his visit to Iran on Sunday.
Iran President Hassan Rouhani with Narendra Modi inspecting guard of honour during a ceremonial welcome. (Photo: Twitter)
India and Iran are planning to develop Chabahar port in southeast Iran, expanding a trade route to central Asia bypassing Pakistan.

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