According to a new article by Dr Albert B.Wolf:
On Monday, May 23, the government of India announced that it would invest $500 million (USD) in the development of the Iranian port of Chabahar.
So whats so special about this deal? As he puts it in his article for the American Security Project:
The deal kills four birds with one stone: it bypasses Pakistan, bests China’s Maritime Silk Road project, provides New Delhi with greater access to oil-rich Central Asia and lowers its dependence on energy sources in the Middle East. India’s investment has been welcomed in nearly all quarters in Tehran. Even with the gradual reduction in sanctions on the Islamic Republic, the heavy hand of the Pasdaran and the country’s out-of-date banking system have put off many potential foreign investors.
I highly recommend reading his article on this important, geostrategic development which impacts Iran, India, Pakistan and Afghanistan. You can find it here.
In case you were wondering how the planned new railway line will connect India to Afghanistan via Iran: the map below explains.