India’s Chabahar deal is a 10-year contract—not ownership of the whole port. Signed on 13 May 2024 by India Ports Global Limited (IPGL) and Iran’s Ports and Maritime Organization (PMO), it covers developing, equipping and operating the general cargo and container terminal at Shahid Beheshti Port. India’s stated aim is to strengthen trade links with Afghanistan and Central Asia; the agreement’s full financial and operational terms have not been made public.
What the agreement covers
The contract was signed in Chabahar on 13 May 2024. India’s Minister of Ports, Shipping and Waterways, Sarbananda Sonowal, witnessed the signing during a visit to the port. The parties were IPGL and Iran’s PMO.
The stated scope is the development, equipping and operation of the general cargo and container terminal at Shahid Beheshti Port for ten years from the signing date. The Indian government described it as a long-term main contract for the terminal. It does not establish that India owns the whole port.
The Indian government’s public summaries do not reproduce the full contract. They do not establish all investment schedules, revenue-sharing arrangements, termination provisions or other detailed obligations, so those should not be treated as known terms.
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Why India wants access through Chabahar
Chabahar is on Iran’s southeastern coast. India presents the port as a potential gateway for trade with Afghanistan and wider Central Asia. The strategic rationale is to improve India’s access to regional markets through a route that does not depend on transit through Pakistan.
The 4th India–Central Asia Dialogue statement of 6 June 2025 records Central Asian countries’ interest in using Shahid Beheshti Terminal to facilitate trade with India and beyond. That indicates policy interest, not proof that a particular volume of trade has moved through the port or that the route has displaced alternatives.
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What the reported investment and traffic figures show
In a 26 July 2024 parliamentary reply, India’s Ministry of Ports, Shipping and Waterways reported the following figures for Shahid Beheshti Port:
| Measure | Government-reported figure | Period or qualification |
|---|---|---|
| Funds allocated | ₹400 crore | From FY 2016–17 through FY 2023–24 |
| Funds utilized | ₹201.51 crore | As reported in the Ministry’s reply dated 26 July 2024 |
| Vessel traffic | 43% increase | FY 2023–24; the short public summary does not define the comparison baseline |
| Container traffic | 34% increase | FY 2023–24; the short public summary does not define the comparison baseline |
These are figures reported by India’s Ministry, not a complete measure of the deal’s costs or returns. The published summary supplies no baseline counts for the traffic percentages, so they cannot be converted from that information into numbers of vessels or containers, or used alone to establish the port’s economic impact.
How US sanctions affect the picture
A June 2026 Economic Times report, citing the Ministry of External Affairs (MEA), said the conditional US sanctions waiver for the Chabahar project ended on 26 April 2026 and that India remained in contact with stakeholders about the implications. The reported status is time-sensitive; the underlying MEA response is not established here as an independently reviewed primary document.
The end of a waiver is not, by itself, evidence that the India–Iran contract was cancelled, that port operations stopped or that a particular party was sanctioned. The available information does not settle the legal or operational consequences for each organization, transaction or activity. Anyone making a current legal or business decision should check the latest US Treasury guidance and official Indian statements rather than infer those consequences from the waiver’s expiration alone.
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