india iran (IMPORTANCE OF IRAN FOR INDIA (Positive effect - (It will be…
IMPORTANCE OF IRAN FOR INDIA
India is now keen on pushing for connectivity with Iran, which will pave the way for its entry into Afghanistan and the Central-Asian region.
US-Iran Nuclear Deal
The deal is done - July 2015
Under the deal, the sanctions imposed by the US, EU and UN would be lifted, in return for Iran agreeing to long-term curbs on its nuclear programme.
All of Iran's nuclear facilities would be allowed to continue operations.
Tehran has also agreed to a "snapback" mechanism, under which some sanctions could be reinstated after 65 days if it violated the deal.
Aftab Kamal Pasha (JNU) - India must vigorously pursue relations with Iran with an eye on possible cooperation to fight the emerging terror groups in Central Asia. The disturbing developments in Afghanistan, the penetration of militants into Central Asia, and the continued expansion of IS in Iraq, all necessitate better India-Iran ties.
MK Bhadrakumar (Former Diplomat) - India would need to work doubly hard to undo the damage caused by toeing the US line. He said despite the sanctions, India should not have allowed its relations with Iran to decline.
India's Official reaction - It "welcomed the successful conclusion of negotiations on the Iranian nuclear issue".
Positive effect -
It will be easy for India to purchase oil from Iran.
Banking and Insurance procedures with Iran will become easier.
Kanwal Sibal - The change in the BOP in the West Asia (Post-deal) will be inevitable. Iran has for long longed that its role in the region should be recognized. Iran has a highly educated population of 79 million with a very rich mineral resource base and a high level technology base. They are real regional power. After the deal, room will open for Iran to exert its regional weight.
Do India needs to re-think its West Asia policy in view of the Iran's reopening to the region ? --> India will have to face competition from many other countries in reaching out to Iran. India will be benefited because many of the transit projects in the pipeline will become reality which were stucked due to the closed nature of the regime. However, hard work will be needed for India to get a share from Iranian pie.
Do India needs to re-think its West Asia policy in view of the Iran's reopening to the region ? --> India will have a tightrope and balancing act to do. India has substantial interests in Iran. India has been more inclined towards the Gulf States and Israelis for the time being but now we will have to be little more balanced.
OVL has 20% stake in Yadavaran field
Iran has third largest proven oil reserves and second largest gas reserves.
Indian refineries are better equipped to process Iranian oil.
Bilateral trade - about $14 billion
India seeks early completion of two projects -
Connecting Chahbar port with Zaranj-Delaram Highway
International North-South Corridor pipeline and transit route