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Assess the importance of India's relations with Iran, particularly in the context of the evolving geopolitical dynamics in the Middle East and the impact of US sanctions. Discuss the potential areas of cooperation, such as connectivity, energy, and regional security.
Iran has shared borders with India before the partition and independence in 1947. There has been trade and meaningful interaction since ancient times sharing common features in language culture and traditions. The strategic location of Iran provides a connection to central Asia for India bypassing tRead more
Iran has shared borders with India before the partition and independence in 1947. There has been trade and meaningful interaction since ancient times sharing common features in language culture and traditions. The strategic location of Iran provides a connection to central Asia for India bypassing the routes blocked due to Pakistan and China. The economic and commercial ties rely on the import of Iranian crude oil by India. The US sanctions did hurt India’s energy security by stopping oil imports in 2019 but India’s Ministry of External Affairs resumed importing oil from Iran, Leveraging the Rupee-Rial Trade to bypass US sanctions.
The significance of the ties can be understood by the following points:-
1-Iran offers access to central Asia and also counterbalances China and Pakistan’s influence in the region.
2-India imports from Iran were USD 1.02 billion during 2023 of which the major portions were organic chemicals and oils.
3-Multilateral engagement by cooperation in regional organizations like SCO and IORA while balancing ties with Israel and Arab states displaying diplomatic agility.
4-The ties with Iran also display resistance to US pressure and the Rupee-Rial trade bypasses the US sanctions and strengthens the rupee while de-dollarisation in the process.
Possible areas of collaboration between India – and Iran are:-
Energy:– The commercial ties have traditionally been based on imports of Iranian crude oil. While the us sanctions reduced the imports from a staggering USD14 billion in 2018 to USD1.02 billion in 2023. Expanding the oil and gas imports and Indian firms’ willingness to invest in Iran’s energy sector will help both countries.
Connectivity:– The Chabahar port project is a significant part of India’s interests as it further connects with the international north-south corridor providing the shortest multi-model transportation route linking India Russia Europe Iran and central Asia.
Regional security:- India and Iran both face threats of Terrorism and hence it’s required to strengthen counter-terrorism cooperation and intelligence sharing.
Conclusion
See lessIndia’s ties with Iran help counter China’s interest in the region, and trade boost through the INSTC by reducing the logistical cost and time. A source of cheap and clean energy and despite us sanctions and shifting regional geopolitical dynamics India has strengthened itself into a global power prioritizing national interests and regional stability. Good ties with India help Iran by giving it access to the fifth largest economy to improve its national development and get investment to boost the economy and a better prospect at the international level hence advancing mutual interest and promoting stability across the region.