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The Shipping Tribune

Good news for India as soon as Pezeshkian takes over the reins of Iran, cooperation expected to increase in many areas including Chabahar


India and Iran have long had strong economic ties. India has invested $120 million to develop the port's Shahid-Beheshti terminal. Through this, India will provide a direct sea route to reach Afghanistan and Central Asia. The advantage of this will be that Indian ships will not have to proceed through Pakistan.

India has invested $120 million to develop the port's Shahid-Beheshti terminal and extended a $250 million line of credit to Iran for infrastructure development.

Oil trade may pick up again
India and Iran have had strong economic relations for a long time. India's oil purchase from Iran has been affected due to US sanctions, but the two countries continue to cooperate as before in other areas. If the new President Pezeshkian succeeds in establishing the 2015 nuclear deal with the US, then he may get relief from trade sanctions. In such a situation, its oil trade with India may pick up pace again.

Source: Jagran

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