Indian Prime Minister Narendra Modi announced $500 million to invest in the development of the strategic southern Iranian port of Chabahar. The objective is to develop a sea-land access route to central Asia while bypassing neighbor Pakistan which India’s historically had thorny relations. The announcement was part of a number of agreements to boost economic ties with Iran that Modi signed with President Hassan Rouhani, during an official state visit. Based on the agreements, India would build and operate two terminals and five berths with cargo handling in the Chabahar port. The development of the corridor through Chabahar will open two-way access between allies India and land-locked Afghanistan.
