As per reports, India will sign an agreement with Iran to manage the Chabahar Port for the next 10 years. India aims to make Chabahar Port a transit hub under the International North-South Transport Corridor (INSTC) to reach out to Commonwealth of Independent States (CIS) countries.
Through INSTC, India looks forward to economise the movement of cargo between India and Central Asia, and the Chabahar Port would act as a commercial transit centre for the region. Earlier, a deal was signed between Iran, India and Afghanistan to develop the Shahid Behesthi terminal, in 2016. Further, discussions on enhancing India’s role at the port were held during then Iranian President’s visit to India in 2018.