India and Iran agree to accelerate Chabahar development
Post to discussion between External Affairs Minister S Jaishankar and his Iranian counterpart Javad Zarif on regional and global issues of mutual interest, India and Iran agreed to quicken the work on the strategic Chabahar project. Chabahar Port, can bring a plethora of opportunities regarding trade with central Asian nations for the countries, i.e India, Iran and Afghanistan, the port is being jointly developed by these 3 countries. It is located on the Indian Ocean in the Sistan and Baluchestan province of Iran. Iran and Afghanistan inked a pact the establishment of Transit and Transport Corridor among the three countries using Chabahar Port as one of the regional hubs for sea transportation in Iran, besides multi-modal transport of goods and passengers across the three nations.
India is closely working with Afghanistan and Iran to create an alternative, reliable access routes for trade in the wake of Pakistan denying transit access to New Delhi. Iran is India’s third-largest oil supplier behind Iraq and Saudi Arabia. Iran supplied 18.4 million tonnes of crude oil during April 2017 and January 2018 (the first ten months of 2017-18 fiscal).
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