Turkmenistan President Gurbanguly Berdimuhamedov and Indian Prime Minister Narendra Modi, in a meeting in Ashgabat on Saturday, underlined that Iran transit route is the most economic way to boost New Delhi-Ashgabat trade ties.
"If we use the Iran route, Ashgabat is the first capital we would reach in Central Asia," Modi said in the meeting.
"Together with Kazakhstan-Turkmenistan-Iran rail link, and India's proposed investment in Chabahar Port (in Iran), these initiatives will strengthen economic relations the two nations," he further added.
In May, an Indian shipping ministry source with direct knowledge of the matter said that Modi and Shipping Minister Nitin Gadkari are keen to sign a Memorandum of Understanding (MoU) with Iran to reinvigorate mutual cooperation on the construction of a port in the Southern port city of Chabahar despite the US pressures.
"The Indian shipping minister will travel on a day-long tour to Iran to sign a memorandum of understanding for development of Chabahar port," the source said.
Modi, who is keen to develop trade ties with Central Asia, is prepared to fend off US pressure not to rush into any deals with Iran.
India and Iran agreed in 2003 to develop a port at Chabahar on the rims of the Sea of Oman, near Iran's border with Pakistan, but the venture has made little progress due to western sanctions on Iran.
India's cabinet approved the plan to develop Chabahar port last year.
In October, a senior Indian trade official stressed the importance of Chabahar for investment in various sectors, including the transit of India's products to other countries.
Manager of Indian Commercial Group Hersh Mishra underlined that the capabilities, capacities and unique location of Chabahar have prepared a suitable ground for investors in the private sector in this port city.
He said good infrastructural plans such as petrochemical refinery, railway, development of the jetty and transit route are either under implementation or study which will pave the way for profitable investment.
The Port of Chabahar is a seaport in Southeastern Iran. Its location lies on the border of the Indian Ocean and the Sea of Oman. It is the only Iranian port with direct access to ocean. The port was partially built by India in the 1990s to provide access to Afghanistan and Central Asia, bypassing Pakistan.
Iran's Chabahar port, which is located 72 kilometers West of Pakistan's Gwadar port, holds immense strategic and economic significance for India. Chabahar and Gwadar ports are located on a similar coast.