India to Expedite Investment in Chabahar Free Zone
The government of India on Thursday said it has decided to expedite investments in Chabahar Free Zone. (Photo Courtesy: Google Earth)
The government of India on Thursday said it has decided to expedite investments in Chabahar Free Zone. (Photo Courtesy: Google Earth)

India to Expedite Investment in Chabahar Free Zone

The government of India on Thursday said it has decided to expedite investments in Chabahar Free Zone.

The development comes after India and Iran held a bilateral meeting to review the Chabahar Port project.

During the bilateral meeting Iran was represented by Minister for Road and Urban Development Abbas Akhoundi, while India was represented by Minister for Road Transport, Highways and Shipping Nitin Gadkari.

It was also decided to expedite the implementation of other projects between India and Iran including construction of the Chabahar-Zahedan Railway and India’s investment in Chabahar Free Zone. They also discussed new projects relating to regional connectivity.
Official Statement, Indian Ministry of Road Transport & Highways
The development comes after India and Iran held a bilateral meeting to review the Chabahar Port project. (Photo: Lijumol Joseph/ <b>The Quint</b>)
The development comes after India and Iran held a bilateral meeting to review the Chabahar Port project. (Photo: Lijumol Joseph/ The Quint)

Also Read: Chabahar Vs Gwadar: Gaining Advantage Over China-Pakistan Axis

Both countries further said that the Chabahar Agreement will provide necessary legal framework for movement of goods and passengers across the territories of India, Iran and Afghanistan.

“The agreement was a turning point in regional connectivity and it will have positive impact,” said the official statement quoting Akhoundi.

Emphasising on the importance of International North-South Transport Corridor (INSTC), the two countries also agreed to take steps for the promotion of the same.

Also Read: Has India Put Its Sovereignty at Stake by Signing LEMOA With US?

India to Consider Iran's Proposal to Develop Chabahar Airport

India may examine a proposal from Iran to develop airport at its strategic Chabahar port as part of comprehensive infrastructure development that includes rail-road connectivity to the port.

There is already an operational airport at Chabahar. The Iranian delegation to India has asked us whether India would be willing to develop and modernise it during the review on the latest development and situation on the bilateral pact... on the Chabahar port.
Official to PTI

Apart from discussions on expanding scope of cooperation to cover development of the entire Chabahar port, it was discussed that air transport could be of much significance, the official disclosed.

The official said, Chabahar has an operational airport and the Iranian minister enquired whether India would be willing to modernise it.

He said further, “We will try to complete the project within the time schedule. We are also finding out what are new things for which we will have opportunity for development and investment. The Iranian minister has given lots of innovative suggestions regarding business development.”

A “milestone” pact on the strategic Chabahar port in southern Iran that will provide India access to Afghanistan and Europe bypassing Pakistan was signed by India and Iran in May this year after detailed discussions between Prime Minister Narendra Modi and Iranian President Hassan Rouhani.

(The Quint is now available on Telegram. For handpicked stories every day, subscribe to us on Telegram)

Follow our Business section for more stories.

    Also Watch