Indian FM Praises Growing Bilateral Trade
Indian FM Praises Growing Bilateral Trade

Indian FM Praises Growing Bilateral Trade

Indian FM Praises Growing Bilateral Trade

India's External Affairs Minister Sushma Swaraj hailed the progress made in the development of bilateral trade with Iran. "Iran and India have a very good relationship. [Their] friendly ties are on the rise," Swaraj told IRNA in New Delhi on Friday. Swaraj traveled to Iran early this month to attend a ceremony where President Hassan Rouhani inaugurated the first phase of Chabahar's Shahid Beheshti Port in the southeastern province of Sistan-Baluchestan. The strategically located project links the region to Central Asia and the Commonwealth of Independent States. In a sign of developing relations, Tehran has proposed that New Delhi manage Phase 1 of the port built by Iran. The offer involves management rights for two years, which could be renewed by another decade. Vying for a foothold in the region barely 100 km from Pakistan's Gwadar Port built and managed by China, India has allotted $235 million for expansion of Phase 2 of the Chabahar Port. India has earmarked $500 million for the development of Chabahar Port Complex, including the establishment of a special economic zone, the Indian daily Economic Times reported.

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