Modi's visit to Iran: highlights

May 22, 2016 02:18 pm | Updated March 25, 2017 10:13 am IST

File photo shows Prime Minister Narendra Modi at Hyderabad House, in New Delhi.

File photo shows Prime Minister Narendra Modi at Hyderabad House, in New Delhi.

Ahead of his maiden visit to Iran, Prime Minister Narendra Modi on Sunday said enhancing connectivity, trade, investment and energy partnership will be his priority with the Persian Gulf nation.

Here's the Prime Minister's schedule:

— Mr. Modi to hold talks with Iran’s Supreme Leader Ayatollah Ali Khamenei and its President Hassan Rouhani.

— Trilateral agreement on Chabahar trade to be signed by Mr. Modi, President Ashraf Ghani and President Rouhani. Chabahar is a port in south-east Iran that will enable India to bypass Pakistan and open up a route to land-locked Afghanistan with which New Delhi has close security ties and economic interests. From Chabahar, the existing Iranian road network can link up to Zaranj in Afghanistan, about 883 kms from the port. The Zaranj-Delaram road constructed by India in 2009 can give access to Afghanistan’s Garland Highway, setting up road access to four major cities in Afghanistan — Herat, Kandahar, Kabul and Mazar-e-Sharif. Besides signing a deal on development of Chabahar port, India is looking at doubling oil imports from Iran which a few years back was its second-biggest oil supplier, as well as getting rights to develop a giant gas field.

— Mr. Modi will inaugurate an international conference on ‘Retrospect and Prospect’ of India-Iran relations.

— The Prime Minister will also visit a local gurudwara.

As Modi visits Iran, India part-pays oil dues

Indian refiners have cleared part of the $6.4 billion owed to Iran for crude oil imports in euros through Turkey's Halkbank, three sources privy to the payment said on Saturday.

This is the first payment to Iran by India since the lifting of Western sanctions against the Persian Gulf nation earlier this year and comes just ahead of Prime Minister Narendra Modi's visit beginning on Sunday. State refiner Mangalore Refinery and Petrochemicals Ltd paid $500 million while Indian Oil Corporation has settled $250 million through the Union Bank of India, the sources said. > Continue reading...

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