After protracted negotiations, India and Iran are set to sign a long-term contract for the development of Chabahar Port. The agreement will cover a period of 10 years and aims to accelerate the development of the strategically important port. The Chabahar Port, located in southeastern Iran, provides India access to markets in Afghanistan and Central Asia. It also serves as a strategic gateway for the International North-South Transport Corridor. The contract signing is expected to take place after India’s general election in the second half of 2024.