Iranian Deputy Foreign Minister for Political Affairs, Majid Takht-Ravanchi will be on a two-day visit to India from today. During the visit, Majid Takht-Ravanchi will participate in the 19th round of Iran-India Political Consultations, scheduled to take place in New Delhi today and tomorrow.
Iran and India have a long-standing historical relationship, underscored by cultural and economic ties, and formalized by the 2003 Strategic Partnership Agreement. This partnership has flourished, particularly in the fields of energy and trade, with bilateral trade reaching an impressive 17.5 billion dollars in 2022-2023.
Last May, the two nations finalized a 10-year agreement concerning the operation and equipment of the southern Iranian port city of Chabahar, aimed at further strengthening their trade and economic ties.
According to the agreement, Iran’s Ports and Maritime Organization (PMO) will transfer portions of the freight and container terminals at Shahid Beheshti Port in Chabahar to India for a decade, during which India will invest $120 million in strategic equipment for the port and an additional $250 million in the transport infrastructure of Chabahar.