Chabahar Port development to help India expand trade routes; need to ensure necessary infra: GTRI

The development of Chabahar Port will help India enhance its logistical capabilities and expand its trade routes to Central Asia and for that there is a need to ensure necessary infrastructure, and processes to effectively manage the cargo flow at the port, economic think tank GTRI said on Tuesday. The Global Trade Research Initiative (GTRI) suggested that the government stick to the fact that the Chabahar Port is not under international sanctions despite being Iran’s only ocean port as despite the strategic advantages, the project’s success is intricately tied to the complex geopolitical environment it operates within. India on Monday signed a 10-year contract to operate the strategic Iranian port of Chabahar. The long-term agreement was signed by Indian Ports Global Ltd (IPGL) and the Port & Maritime Organisation of Iran. IPGL will invest about USD 120 million while another USD 250 million will be raised as debt. US sanctions on Iran over its suspected nuclear programme had slowed the development of the port.