Ministry of Shipping promotes trade through Shahid Beheshti Port in Iran. Government extends 40% discount for a year on cargo movement between Chabahar port in Iran and India.
Extension of 40% Discount on Cargo Movement to/from Chabahar Port
The Shipping Ministry has issued a notification extending the current concessional rate of 40% discount on the cargo movement between India and the Chabahar port of Iran. The vessel-related charges (VRC) will remain the same for a further period of one year. The authorities will apply 40% discount proportionately to cargo handled at Jawaharlal Nehru Port and Deendayal Port from/to Shahid Beheshti Port, Chabahar. Further, the discounting will be subjected to vessel loading of at least 5000 MT or 50 TEUs cargo. The Indian Ports Global Ltd, in coordination with ports, will develop Standard Operating Procedures (SOP) for the activity. Also, it will ensure that discharging or loading of discounted cargo takes place smoothly at Shahid Beheshti Terminal of Chabahar Port.
Chabahar Port- Important for Unhindered Trade With Iran
Following the end of sanctions by the US after its pullout from the nuclear deal. Oil imports from Iran came to a stop in May 2019. However, it exempted the Chabahar Port from sanctions considering its strategic importance to India as a gateway to Afghanistan. The port has handled 12 lakh tons of cargo and 8200 containers since December 2018. Nonetheless, Iran complained of the slow development of Chabahar Port due to India’s changed attitude. Also, the nation indicated that it was eager to bring Pakistan and China on board for connecting Chahabar port to Gwadar Port in Baluchistan Province which is an essential component of the China-Pakistan Economic Corridor.
In all, India has been giving diligent attention to Iran. Especially to the development of the Chabahar port, given its strategic importance to bolstering trade.