What are India’s stakes in Iran’s Chabahar port?

News Snapshot:

India and Iran signed a 10-year contract on Monday for the operation of a terminal at the strategically important Chabahar port in Iran. Chabahar is a deep water port in Iran’s Sistan-Baluchistan province. It is the Iranian port that is the closest to India, and is located in the open sea, providing easy and secure access for large cargo ships. Union Minister for Shipping, Ports and Waterways Sarbananda Sonowal witnessed the signing of the contract between India Ports Global Ltd (IPGL) and Ports & Maritime Organisation of Iran (PMO) in Tehran. Advertisement IPGL will invest approximately $120 million to equip...