NEW DELHI: Iranian President Hassan Rouhani has offered India to make an hefty invest of $8 billion in infrastructure projects, particularly in developing the common strategic port, Chabahar, that will open route of Central Asia for both countries, said by Iran’s envoy to New Delhi.
In a meeting with Indian Prime Minister Narendra Modi on the sidelines of a summit in Russia, Iranian President suggested the larger role for India, Iran’s ambassador Gholamerza Ansari said. Iranian ambassador said, “The potential between Iran and India is great but we were just facing such a wall of sanctions, wall of American pressure.”
Ansari said, “With sanctions likely to be lifted soon, it was a ‘golden time’ for India to seize investment opportunities because of the two countries’ close trade ties and shared interest in improving Central Asian transport links.” “Connectivity is the main policy of Modi that coincides with Iran’s government policy. We’ve offered them, in connectivity, $8 billion for projects”, he added.
However, how Modi responded to the Iran’s offer is still unclear. Indian foreign ministry didn’t comment on this meeting too.
Both Iran and India have a close trade relationship despite the restrictions imposed by U.S. on Iran. In 2003, both countries had made a deal to develop Port of Chabahar on the Gulf of Oman, close to Iran’s border with neighbouring country Pakistan. However, the deal has moved slowly because of the sanctions by the world powers over Iran’s nuclear programme. After the launching of China Pakistan Economic Project to develop the Gwadar port, Iran and India are lifting up the development project of Chabahar port again to access to the Central Asia.