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A research associate at the Delhi-based think tank Society for Policy Studies believes that the nuclear deal signed between Iran and the six world powers in 2015 has opened up the Islamic Republic to the world. both economically and politically.
Chayanika Saxena said. “The Iranian nuclear deal of last year has benefited the country. both economically and politically. Economically. it has the potential of opening up the burgeoning Iranian markets to the world and the world to the Iranian market. It is interesting to note that the Tehran Stock Exchange has been listed as `the last. large untapped emerging market in the world`. and with the freeing of the Iranian economy from the global sanctions. the possibility of integrating the Iranian markets with the global financial system has increased.”
“The Iranian oil will become available to the market. its foreign reserves that were frozen will become accessible again. Investments from outside are bound to increase. although they still might get caught up in the political and administrative difficulties within Iran.” she added.
Elaborating on the political gains of Iran. the seasoned analyst of the world affairs said. “Politically. Iran is back with a bang. Domestically. Iran’s coming out of the shadows of international sanctions can have a resounding impact on its institutional structures by calibrating it to deal with the demands of a globalizing world.”
Terming Iran as a stabilising force in the Middle-East. Chayanika Saxena said. “Iran’s role in facilitating the regional stability has also enhanced – formally. Although it would be too hasty to assume that the deal would remove deep-seated suspicions in the ties between USA and Iran. it is nevertheless expected of Iran. now that it is no longer a no-go-to state that it will play a major role in enhancing stability in the regions it is part of. The Afghan economy. for instance. can now find a rescue in the Iranian ports for reaching out to the world. thereby helping it in contributing to ensuring Afghanistan’s political stability.”
she said. “Most certainly. the Chabahar Port is a prime example of the deepening ties between India and Iran. an agreement that has been hailed by Iranian President Rouhani as “not only an economic document. it’s also a political and a regional one”.
“Both India and Iran recognize the strategic. political. economic and cultural significance of each other in bilateral. regional and international setups. While the ties between the two nations have been friendly and peaceful throughout. the removal of sanctions has given both the countries an opportunity for direct economic engagement after many decades. The USD 500 million Chabahar project. an expected ‘strategic investment’ of USD 16 billion in the Free Trade Zones around Chabahar. the (upcoming) International North-South Trade Corridor are just some of the highlights of the expanding ties between India and Iran.
Rejecting the possibility of many countries to follow the US President Donald Trump’s line on Iran. she said. “China and Russia had been dealing with Iran even during those years when it was under sanctions. Especially with the Chinese OBOR. it is highly unlikely that the Chinese will withdraw from Iran. even as the implementation of projects might become difficult for it once again. India. despite the sanctions. maintained a friendly association with Iran. It is worth recalling that the idea of the development of the Chabahar port was mooted in 2002 during President Khatemi’s visit to India.”
“It was in 2003 that the idea was given a go-ahead. India did face financial and other administrative hurdles to get this far. but as Iran embeds itself in the international system more and more. it will be increasingly unwise for the world to pull out of Iran and for Iran to push itself back into isolation.”
