What is the Status of Economic Ties Between India and Iran?
The trade between India and Iran has been fluctuating significantly over the years. In 2019-20, India’s imports from Iran, primarily crude oil, declined by approximately 90% to USD 1.4 billion from USD 13.53 billion in 2018-19. Iran has witnessed a depletion of its rupee reserves in the vostro account, impacting its ability to import key Indian commodities like basmati rice and tea.
Recently, the meeting of Indian PM Modi and Iranian President Raisi has emphasised the future cooperation through coordination in organisations like Sanghai Cooperation Organisation and BRICS.
Chabahar Port : Overview, Significance, Progress & Updates of Port Deal
The Chabahar Port is located in Iran at the mouth of the Gulf of Oman. The Chabahar Port is also considered the ‘Golden Gateway’ as it connects Indian Ocean countries to Central Asia. It is an important port because it is situated in a strategic location. It is a connecting point between Central Asia and South Asia. It provides Iran with direct access to the Arabian Sea. This port is located to the west of Iran’s border with Pakistan. In this article, we will discuss more about the significance of the Chabahar port and its importance to India.
Table of Content
- What is Chabahar Port? – Overview
- What is the Meaning of Chabahar?
- What is the Geopolitical significance of Chabahar port?
- Why is the Chabahar Port important to India?
- Progress and Updates Regarding the Chabahar Port Deal
- What is the Status of Economic Ties Between India and Iran?
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