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Chabahar: From more port agreements to risk management, India's next step revealed

Monday 20th May 2024 214

India is looking to replicate the Chabahar port agreement model at other strategic locations in the region in a bid to acquire additional assets, according to a recent statement by Ports, Shipping and Waterways Minister Sarbananda Sonowal.

India aims to replicate the Chabahar model

In this context, Sonowal, who on Monday signed an agreement, said India is actively exploring opportunities in a bid to improve its trade connectivity and maritime presence.

< To replicate the Chabahar model in other strategic locations, Sonowal said New Delhi would do so by “adhering to similar principles.” ", such as identifying ports in regions that offer economic advantages and then investing in developing and modernizing port infrastructure.

Indian Ports Global Limited (IPGL) and Iran Ports and Maritime Organization (PMO) on Monday signed a long-term bilateral contract In Chabahar Port, which will allow the operation of Shahid Beheshti Port Terminal in Chabahar. Port development project for 10 years. Under the contract, India will purchase, install and operate critical equipment in Chabahar. IPGL is a wholly owned company of the Ministry of Ports, Shipping and Waterways.

Chabahar Port, India's first foreign port, is New Delhi's answer to Gwadar Port in Pakistan, which is being developed under the framework of China's Belt and Road Initiative (BRI).

Chabahar will be complementary to IMEC

Sonowal also said that Chabahar will be complementary to the India-Middle East-European Economic Corridor (IMEC) initiative proposed at the IMEC summit. 20 in New Delhi last year, adding that the port would contribute to the “success and feasibility” of the IMEC project.

IMEC, an American company Corridor The Israeli-led connectivity project that would connect India to Europe across the Gulf is currently on hold due to the war in Gaza and its consequences.

India will work to mitigate the risks associated with Chabahar

While he stated that the long-term Chabahar contract has commercial and strategic potential for India and that the port in Iran will improve Trade between India and landlocked West Asian and Central Asian countries, Sonowal also acknowledged that Chabahar port operations could be affected to some extent due to regional tensions.

However, Sonowal added that a number of measures could be taken, including Collaborate with regional partners and enhance port security, to mitigate risks.

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