Indian Economy and Issues Relating to Planning, Mobilization, of Resources, Growth, Development and Employment.

Related Articles

India-Korea Electronic Origin Data Exchange System (EODES)

December 10, 2023

Biosphere Reserve

November 3, 2023

Cheetahs in India

September 29, 2023

GS-3

3.CHABAHAR PORT

IMPORTANT POINTS:

• Government of India strengthens cargo handling capacity of Chabahar Port, Iran.
• India has supplied a consignment of two Mobile Harbour Cranes (MHC) to Iran’s Chabahar port, with a total contract value of over USD 25 Million under a contract agreement for supply of 6 MHC.
• This is a step towards India’s commitment towards infrastructure development of ShahidBeheshti Port of Chabahar.

BACKGROUND:

• The bilateral contract between the Islamic Republic of Iran and Republic of India was signed in 2016 with a total value of USD 85 million for Equipping, Mechanizing and starting Operations at ShahidBeheshti Port of Chabahar development Phase- I.
• To achieve this ambitious aim, an SPV namely India Ports Global Limited (IPGL), Mumbai was incorporated under the ambit of the Ministry of Ports, Shipping and Waterways.

SIGNIFICANCE OF CHABAHAR PORT TO INDIA

• Development of Chabahar port is the anchor for the expansion of economic and mutual relations between India and Iran and it will give a further boost to the maritime trade between both the countries.
• The location of Chabahar Port has strategic advantage and high potential to provide connectivity among India, Iran, Afghanistan, Uzbekistan and other CIS countries specially Eastern CIS countries to increase trade between these countries.

SOURCE: PIB