Key Areas of Cooperation Between India and Iran:
•Chabahar Port: India and Iran have a 10-year contract to run the Chabahar port, which serves as a strategic trade route and helps deliver humanitarian aid to Afghanistan.
•Energy Supplies:
Iran has 24% of West Asia’s oil reserves and 12% of the world’s natural gas reserves
Discussions are ongoing to resume oil and gas imports from Iran, which were paused due to sanctions.
Before 2019, Iran supplied nearly 12% of India’s crude oil needs, making it an important energy partner.