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India to sign port deal with Iran

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India will push ahead this week with plans to build a port in southeast Iran, two sources said, with Indian Prime Minister Narendra Modi prepared to fend off US pressure not to rush into any deals with Iran.
According to IRNA, Indian Shipping Minister Nitin Gadkari left New Delhi for Tehran on Tuesday at the head of a delegation for talks with his Iranian counterparts.

Gadkari is expected to sign a deal for making by INVESTMENT in Chabahar Port on Wednesday.

India and Iran agreed in 2003 to develop the port in the Sea of Oman, near Iran's border with Pakistan, but the venture made little progress because of Western sanctions on Iran.

Now, spurred on by Chinese President Xi Jinping's signing of energy and infrastructure agreements with Pakistan worth $46 billion, Modi wants to swiftly sign trade deals with Iran and other Persian Gulf countries.

Encouraged by the prospect of a nuclear deal between world powers and Tehran by July 1 on Iran's nuclear program, after which sanctions could be lifted, India recently sent a delegation to Iran to scout for trade, energy and infrastructure deals.

The United States cautioned India and others last week against strengthening ties with Iran ahead of a final agreement. But Indian officials said New Delhi could not ignore its national interest and cited a report that a US energy delegation was visiting Iran.

"We don't want to miss this opportunity and will move as expeditiously as possible," the shipping ministry source said.

India's cabinet approved the plan to develop Chabahar Port last year.

Iran has also proposed a free-trade agreement with India, a trade ministry source said. Rupee-denominated trade with Iran, started in 2012 because of complications arising from sanctions, has almost doubled Indian exports to Tehran in the past two years to $4 billion.

Now Indian exporters want to build on that, using a free-trade zone being developed near Chabahar to export more to the Commonwealth of Independent States, made up of former Soviet Republics, said Mumbai-based Khalid Khan, regional head of the Federation of Indian Export Organizations.

"It will be Modi's gift to Iran and Indian exporters," he said of the port project.

India wants to build the port, as it would cut transport costs and freight time to Central Asia and the Persian Gulf by about a third.

The port is also central to India's efforts to circumvent Pakistan and open up a route to landlocked Afghanistan where it has developed close security ties and economic interests.

India has already spent about $100 million to construct a 220-km (140-mile) road in western Afghanistan to link up with Chabahar Port.

Chabahar is along the coast from Gwadar Port in Pakistan that is being developed with China's help, said Robin Mills, the head of consulting at Dubai-based Manaar Energy. "So there is a strategic element for the Indian side.”

Iran could rapidly develop as a destination for global INVESTORS when Western sanctions are lifted and Modi wants to fast-track the port project.

At the weekend, Iranian media reported that Iran had turned down an Indian request seeking multibillion-dollar development rights for the Farzad B gas field.

"I think India should try to push ahead and take advantage wherever they can before Iran changes its mind," Mills said.

India to sign port deal with Iran despite US pressure
 
image_650_365.jpg


India will push ahead this week with plans to build a port in southeast Iran, two sources said, with Indian Prime Minister Narendra Modi prepared to fend off US pressure not to rush into any deals with Iran.
According to IRNA, Indian Shipping Minister Nitin Gadkari left New Delhi for Tehran on Tuesday at the head of a delegation for talks with his Iranian counterparts.

Gadkari is expected to sign a deal for making by INVESTMENT in Chabahar Port on Wednesday.

India and Iran agreed in 2003 to develop the port in the Sea of Oman, near Iran's border with Pakistan, but the venture made little progress because of Western sanctions on Iran.

Now, spurred on by Chinese President Xi Jinping's signing of energy and infrastructure agreements with Pakistan worth $46 billion, Modi wants to swiftly sign trade deals with Iran and other Persian Gulf countries.

Encouraged by the prospect of a nuclear deal between world powers and Tehran by July 1 on Iran's nuclear program, after which sanctions could be lifted, India recently sent a delegation to Iran to scout for trade, energy and infrastructure deals.

The United States cautioned India and others last week against strengthening ties with Iran ahead of a final agreement. But Indian officials said New Delhi could not ignore its national interest and cited a report that a US energy delegation was visiting Iran.

"We don't want to miss this opportunity and will move as expeditiously as possible," the shipping ministry source said.

India's cabinet approved the plan to develop Chabahar Port last year.

Iran has also proposed a free-trade agreement with India, a trade ministry source said. Rupee-denominated trade with Iran, started in 2012 because of complications arising from sanctions, has almost doubled Indian exports to Tehran in the past two years to $4 billion.

Now Indian exporters want to build on that, using a free-trade zone being developed near Chabahar to export more to the Commonwealth of Independent States, made up of former Soviet Republics, said Mumbai-based Khalid Khan, regional head of the Federation of Indian Export Organizations.

"It will be Modi's gift to Iran and Indian exporters," he said of the port project.

India wants to build the port, as it would cut transport costs and freight time to Central Asia and the Persian Gulf by about a third.

The port is also central to India's efforts to circumvent Pakistan and open up a route to landlocked Afghanistan where it has developed close security ties and economic interests.

India has already spent about $100 million to construct a 220-km (140-mile) road in western Afghanistan to link up with Chabahar Port.

Chabahar is along the coast from Gwadar Port in Pakistan that is being developed with China's help, said Robin Mills, the head of consulting at Dubai-based Manaar Energy. "So there is a strategic element for the Indian side.”

Iran could rapidly develop as a destination for global INVESTORS when Western sanctions are lifted and Modi wants to fast-track the port project.

At the weekend, Iranian media reported that Iran had turned down an Indian request seeking multibillion-dollar development rights for the Farzad B gas field.

"I think India should try to push ahead and take advantage wherever they can before Iran changes its mind," Mills said.

India to sign port deal with Iran despite US pressure


meanwhile in India .. happening ... there are other post as well of recent developments.
 
Uncle SAM is very unhappy with this development.
 
Uncle SAM was also unhappy with our NAM- Non Aligned Movement.... than can any inferences be drawn out off anyone being not comfortable. That's their problem not ours.
 
No fooks given to Uncle

You would when they threaten you with sanctions. This deal can seriously jeopardize their dealings with Iran on P5+1 negotiations on its nuclear program.
 
You would when they threaten you with sanctions. This deal can seriously jeopardize their dealings with Iran on P5+1 negotiations on its nuclear program.

The Nuclear negotiations are independent of this deal

Any way this port is not going to dilute the sanctions or bring in prohibited goods
immediately

The sanctions are going to be lifted anyway
 
You would when they threaten you with sanctions. This deal can seriously jeopardize their dealings with Iran on P5+1 negotiations on its nuclear program.

Sanctions on India will harm their economy more than India's. They would be foolish to put sanctions on India
 
@Horus

We just want to be ahead of the curve

Have you heard of the first mover's advantage

Once sanctions are lifted completely ; there will be MORE suitors for Chabahar

So we are sticking our necks out on this one
 
The day is not far when US Iran relations would improve as it's in US interest if it wants to gain a foothold in Afghanistan and Central Asia in Future.

By that time We Indians keep our Middle Finger Ready for Haters,while we keep investing in Chabahar port
 
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