What is the significance of India's 10-year agreement with Iran regarding Chabahar Port?
It grants India operational control over the port
It grants India operational control over the port is correct.
On 13 May 2024, India Ports Global Limited (IPGL) signed a 10-year contract with Iran's Ports and Maritime Organisation to operate the Shahid Beheshti terminal of Chabahar Port. It is the first time India took over the management of an overseas port, replacing the earlier short-term renewals. India also committed about USD 120 million for equipment and a credit window of about USD 250 million.
The port gives India a route to Afghanistan and Central Asia that bypasses Pakistan and links to the International North–South Transport Corridor. The deal is not about oil exports, does not restrict Iran–China trade, and Chabahar remains separate from Pakistan's Gwadar Port.
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Important Questions from Agreements and MoU
Which of the following organizations has tied up with GIFT City to offer courses in insurance, reinsurance, risk management and technology?
India and _______ have signed a memorandum on cooperation and assistance in the Mumbai - Ahmedabad High Speed Rail Project.
Arab world's first universal museum opened in November 2017 was based on an intergovernmental agreement between _________.
Which banking entity was declared a domestic-systemically important bank (D-SIB) by the Reserve Bank of India on September 4, 2017?
An agreement for a cultural exchange program for the year 2017-2020 was signed between ______ in May 2017.
