TEHRAN – Iranian Deputy Foreign Minister for Political Affairs, Majid Takht-Ravanchi, is set to visit New Delhi on Thursday.

Takht-Ravanchi will participate in the 19th round of Iran-India Political Consultations, scheduled to take place in New Delhi from January 2-3, as announced by the Iranian Foreign Ministry's Public Relations Office on Tuesday.

Iran and India have a long-standing historical relationship, underscored by cultural and economic ties, and formalized by the 2003 Strategic Partnership Agreement.

This partnership has flourished, particularly in the fields of energy and trade, with bilateral trade reaching an impressive $17.5 billion in 2022-2023, despite anti-Iran sanctions by the West. 

As members of BRICS, both countries have strategically utilized initiatives like the International North-South Transport Corridor to effectively lower freight costs and transit durations, enhancing their trade efficiency and economic cooperation.

Moreover, cultural exchanges and collaborations in technology and pharmaceuticals are on the rise. This is evidenced by a notable 30% increase in Indian tourism to Iran in 2022.

Chabahar port: a new chapter in Iran-India ties

In May, Iran and India finalized a significant 10-year agreement concerning the operation and equipping of Chabahar's Shahid Beheshti Port.

Under this agreement, Iran’s Ports and Maritime Organization will transfer portions of the freight and container terminals to India.

In return, India is committing $120 million for strategic equipment and an additional $250 million for transport infrastructure.

This agreement not only fortifies economic ties but also strategically positions Chabahar as a counterbalance to Pakistan’s Gwadar Port.

It fosters regional stability and provides alternative trade routes for landlocked nations such as Afghanistan