India, Iran on development of Chabahar Port
3rd Dec, 2022
Recently, Tehran’s Deputy Foreign Minister for Political Affairs Ali Bagheri Kani visited India for foreign level talks on various issues.
- During the delegation level talks, the two sides reiterated their commitment to continue cooperation for development of the Shahid Beheshti terminal of the Chabahar Port.
The Chabahar Port:
- The Chabahar Port is a key pillar of India’s India-Pacific visionto connect Eurasia with the Indian Ocean Region.
- The Chabahar Port located in Iran is the commercial transit centre for the region and especially Central Asia.
- The portwill also be part International North-South Transport Corridor network connecting India.
- Notably, the first rail transit cargo from Russia to Indiaentered Iran recently through the Sarakhs border crossing, marking the official launch of the eastern section of the North-South railway corridor.
International North-South Transport Corridor (INSTC):
- INSTC is India’s vision and initiative to reduce the time taken for EXIM shipments to reach Russia, Europe, and enter the central Asian markets.
- This route connects India and Russia through Iran and Azerbaijan.
Why Central Asia assumes significance for India?
- Geo-strategic location, global power hub, leader in Eurasia
- Energy hub:Central Asia has an abundance of oil and gas deposits. The region contains vast hydrocarbon fields both on-shore and off-shore in the Caspian Sea which homes around 4 percent of the world’s natural gas reserves and approximately 3 percent of oil reserves.
- Gas (Turkmenistan)
- Oil, gas and uranium(Kazakhstan)
- Uranium and gas(Uzbekistan)
- Hydropower (Tajikistan and Kyrgyzstan)
- Significant transportation hub:The region is a major transportation hub for gas and oil pipelines and multi-modal corridors connecting China, Russia, Europe, and the IOR.