India, Iran sign 10 yrs contract on Chabahar port.
In a massive achievement for India-Iran relations, both countries signed a 10-year deal that would give India management control over a section of the crucial Chabahar Port, which opens up trade routes between India and land-locked Afghanistan, Iran and other Eurasian countries. India will take control of operations at the Shahid-Beheshti Port Terminal.
The historic deal was signed in the presence of an Indian delegation led by Union Shipping Minister Sarbananda Sonowal and Iran's Minister of Roads and Urban Development Mehrdad Bazrpash. The deal seeks to foster close cooperation between India and Iran to make Chabahar port a regional trade transit and connectivity hub.
The Chabahar port will allows India to bypass Pakistan's ports in Karachi and Gwadar and reach land-locked Afghanistan and Central Asian countries. Besides, the Port is also considered a counter-response to China's most touted Belt and Road Initiative.
