India to continue development of Iranian port of Chahbahar

Following talks between Iran and the “E3+3” countries (China, France, Germany, Russia, UK and the US) an interim agreement known as the “Joint Plan of Action” was reached by both sides on November 24, 2013, which provides for a temporary freeze on further unilateral financial sanctions against Iran by these countries till July 20, 2014.

Government, therefore, continues efforts to promote India’s participation in the development of the Iranian port of Chahbahar as it will help promote India’s economic interests throughout the region including in Afghanistan, Iran and in the Central Asian region.

Government has been taking all necessary measures to enhance India’s energy security. Indian oil companies continuously engage in diversifying their crude oil purchase basket to eliminate dependence on any particular country or region.

This Information was given by answer the Minister of state in the Ministry of External Affairs Gen. Retd. V. K. Singh in Lok Sabha today.

The full development of the port would lower landlocked Afghanistan’s dependence on Pakistani ports for assured access to the sea. Besides, the trilateral arrangement could balance joint forays by China and Pakistan into the Indian Ocean.Observers say the development of Gwadar may have imparted some urgency to India’s decision to go ahead with the Chabahar project.