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Iran-India economic relations gravity point is the benefits of cooperation on the International North–South Transport Corridor (INSTC); the corridor which has gained importance over the past years because of the reduction of cost and time of transit of goods between the Indian subcontinent, on the one hand, and Russia and the northern and eastern Europe, on the other, can play a pivotal role in the export of Indian-made products.
In transit sector, the Free Economic Zones (FEZs) of Chabahar and Anzali as the origin and destination of INSTC, along with legal exemptions of the zones, play a major role in promotion of India and Iran relations.
The two countries have been among the most ancient and influential human civilization that have greatly contributed to quality and quantity of human civilizations.
Shared economic and cultural interests have given the thousands-year-old relations the flexibility required for cooperation in a variety of fields. The economic and cultural relations have entered a new stage since a nuclear deal, known as the Joint Comprehensive Plan of Actions (JCPOA), was reached between Iran and world major powers.
An instance of such cooperation can be seen in the free zone and port of Chabahar on southeastern Iran that got prominence when the presidents of Iran, Indian and Afghanistan signed a memorandum of understanding on economic benefits of transit and shipping via the port.
Given the past activities and programs of the Iran-India Friendship Association since the onset of its foundation aimed at promotion of cultural, social and scientific relations between the two countries, it can be said that Iran's FEZs are the first stop of Indian investors in their endeavors for exporting Indian-made products to the markets of Iran and other countries of the region. Holding joint special cultural programs can also set the stage for more acquaintance of the Indian investors with Iran's potentials to increase the economic ties to a multi-billion-dollar level from its existing position. Attracting prospective tourists, and thus, adding to Iran's foreign currency income, is another benefit of such programs.
Iran-India friendship Association is fully ready to hold expert meetings between the two countries' FEZs for providing them with bi- and multilateral cooperation opportunities, as the body believes in the necessity of realization of Iran's FEZs potentials for development of international transactions.
The Persian text was written by: Massih Mirhosseini, member of Iran-India Friendship Association Board of Directors
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