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Friday, May 17, 2024

India eyes more Chabahar-like pacts: Ports Minister Sarbananda Sonowal:-ET

 


India aims to replicate the Chabahar port model in other strategic locations in the region to gain access to more such assets, said Sarbananda Sonowal, Union Minister of Ports, Shipping and Waterways. India is actively exploring opportunities to enhance its maritime presence and trade connectivity, he said in an interview.

Sonowal on Monday signed a 10-year pact with Iranian authorities for a longterm bilateral contract to operate Chabahar port. The project was first proposed during former Prime Minister Atal Bihari Vajpayee’s regime. “India aims to replicate the Chabahar model in other strategic locations by adhering to similar principles such as identifying ports in regions that offer economic advantages, investing in the modernisation and development of port infrastructure,” he told ET.

The project is seen as India’s regional strategic response to Gwadar port in Pakistan being developed under China’s Belt and Road Initiative (BRI). Under the agreement, India will procure, install, and operate key equipment at Chabahar, the first overseas port to be operated by the country.

“The long-term contract holds both commercial and strategic potential for India,” Sonowal said, adding that Chabahar offers a shorter, more direct route to Central Asia, reducing transportation time and costs.

He said the Chabahar port will enhance trade between India and Central Asian as well as the West Asian countries. “The port will act as a gateway for Indian goods, promoting economic integration and opening new markets for Indian businesses, especially in landlocked regions,” he added.

According to Sonowal, infrastructure upgrade is a key focus area for the government led by Prime Minister Narendra Modi and the sector has seen significant transformation.

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