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.
