India's Foreign Minister, S Jaishankar, anticipates a lasting agreement with Iran regarding the Chabahar Port's management. This development unfolds as Shipping Minister Sarbananda Sonowal embarks on a mission to Iran for negotiations on a new pact.

Jaishankar highlighted the significance of a long-term deal, asserting that it would pave the way for substantial investments in the port. Currently, India operates the Chabahar Port on a temporary basis.

The Chabahar Port project aims to establish a crucial trade route, facilitating commerce between India, Afghanistan, and Central Asian nations while circumventing Pakistani ports like Karachi and Gwadar. However, progress on the port's development has faced setbacks due to US sanctions on Iran.

India envisions Chabahar Port as a pivotal transit point within the International North-South Transport Corridor (INSTC), connecting to CIS countries. This strategic move aims to streamline cargo movement with Central Asia, positioning Chabahar as a commercial hub for the region.

Reports suggest that the new agreement, expected to span a decade, will supersede the existing contract and allow for automatic extensions. This development signifies a step forward in bolstering India's regional connectivity and trade prospects.

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