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India developing Iran’s Chabahar amid US sanctiions

Tehran: Iran is trying to develop its economy amid tough US sanctions. For this, Iran wants to develop trade links with Central Asian countries by making Chabahar port developed by India as the center. The distance from Chabahar to India, Pakistan, Afghanistan, Kyrgyzstan and Uzbekistan is very less. Iran’s economic situation is deteriorating Chabahar Port […]

Edited By : Ajeyo | Updated: Jul 25, 2022 08:38 IST
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India, Iran, US, China, Asia, Pakistan, News24
India, Iran, US, China, Asia, Pakistan, News24

Tehran: Iran is trying to develop its economy amid tough US sanctions. For this, Iran wants to develop trade links with Central Asian countries by making Chabahar port developed by India as the center.

The distance from Chabahar to India, Pakistan, Afghanistan, Kyrgyzstan and Uzbekistan is very less.

Iran’s economic situation is deteriorating

Chabahar Port is located in southeast Iran at the mouth of the Gulf of Oman. From here it will take less time to send goods for business to India and the freight will also be less. Iran’s economic situation is deteriorating due to US sanctions and consequently decreasing investment by Western countries. To overcome that, Iran is seriously considering its trade options.

Along with increasing trade with China, Iran wants to increase trade with India and Central Asian countries.

Initiatives to increase trade between India and Iran

Recently, India and Iran have taken an initiative to increase trade through Chabahar port in the conference of India and Central Asian countries. For this, the rules and tax system have been simplified. Be aware that India is developing Chabahar port and wants to increase its trade from here.

According to a senior official of Kyrgyzstan, his country will benefit greatly in trade from Chabahar. At present, it takes 30 to 45 days for Kyrgyzstan goods to come from India by waterway. This time will be reduced to 14-15 days once Chabahar port starts. Due to this the freight will also be less. Iran, India and regional countries will benefit greatly from Chabahar port becoming the center of regional trade.

First published on: Jul 25, 2022 08:32 AM IST

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