(With inputs from Suchetana Ray in New Delhi)Read: Agreement to develop Chabahar port an important milestone: PM Modi in Iran From Chabahar port, the existing Iranian road network can link up to Zaranj in Afghanistan. “The bilateral agreement to develop the Chabahar port and related infrastructure, and availability of about $500 million from India is an important milestone,” said Modi. This is the first payment to Iran by India since the lifting of Western sanctions against the Persian Gulf nation earlier this year. Developing the Chabahar port was seen as crucial for India because it will not only allow New Delhi to bypass Pakistan and access global markets but also counter China’s expanding influence in the Indian Ocean region.

Source: Hindustan Times May 23, 2016 07:26 UTC